CITIZENS BANK, BOA PROVIDE $80 MILLION FOR STAG INVESTMENT FUND

BOSTON — Providence, R.I.-based Citizens Bank and Charlotte, N.C.-based Bank of America are providing $80 million to Boston-based STAG Capital Partners to finance the company’s acquisition of its fourth real estate investment fund. The fund comprises manufacturing, warehouse, flex and office building properties. Citizens Bank is serving as agent for the financing, with Bank of America serving as co-agent. STAG acquires single-tenant, net-leased real estate assets through purchase and sale-leaseback transactions, and subsequently managed the properties. The company also provides liquidity to corporate real estate owners through sale-leasebacks. STAG has most recently acquired properties in New York, Pennsylvania, North Carolina, Tennessee, Georgia, Texas, Minnesota, Ohio and Wisconsin.