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.
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 macdonald@pbn.com.
