Citizens Bank announces referral partnership with PGIM Real Estate

PROVIDENCE – Citizens Bank has announced a referral partnership with PGIM Real Estate Finance, a Prudential company that is focused on long-term financing for commercial, multifamily and agricultural businesses.

The partnership is expected to create opportunities for financing of multifamily properties, according to a news release.

In 2017, commercial real estate loans at Citizens grew 15 percent to $11.2 billion, according to a company news release.

The agreement with PGIM Real Estate Finance will give Citizens’ clients an opportunity to work with an outstanding, long-term permanent financier on projects, according to Gary Magnuson, head of commercial real estate finance for Citizens.

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Citizens Bank, a subsidiary of Citizens Financial Group Inc., is the largest Rhode Island-based bank.

Mary MacDonald is a staff writer for the PBN. Contact her at