CIT Launches Real Estate Unit

Law360, New York (November 2, 2011, 4:55 PM EDT) -- Fresh off the announcement that it would start an online bank, CIT Group Inc. continued its post-bankruptcy business expansion Wednesday with the launch of a real estate arm that will target borrowers seeking loans of $20 million or more.

New York-based CIT, which erased $11 billion in debt in its lightning-fast 2009 Chapter 11 reorganization, said Wednesday the new business, called CIT Real Estate Finance, will target investments in the Boston, New York and Washington markets.

“CIT Real Estate Finance will offer commercial real estate loans...
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