Citizens Financial : Bank Provides $58 Million in Financing for Brookland Press Apartments

01/03/2018

New 295-unit, multifamily project in NE Washington, D.C. neighborhoodoffers convenient access to transportation

WASHINGTON, D.C. - Citizens Bank announced today that Citizens Commercial Banking has provided a $58 million loan to Jemal's Channing Place LLC / Douglas Development Corp.for the Brookland Press Apartments, a 295-unit, Class A, multifamily project in the Brookland neighborhood of NE Washington, D.C.Citizens is the sole lender.

Douglas Development Corp. is a Washington, D.C.-based property development, leasing and management company.

'We greatly value our partnership with Citizens Bank and appreciate the Commercial Real Estate team's excellent ideas and seamless deal execution,' said Norman Jemal of Douglas Development Corp. 'We have been a client since 2010 and welook forward to continuing to work with the Citizens team in the future.'

'Loans are just one of the ways that the Commercial Real Estate team is helping clients such as Douglas Development Corp.,' said Tim Leon, Executive Vice President of Commercial Real Estate for the Mid-Atlantic and Southeast at Citizens Bank. 'This deal highlights Citizens' strong commitment to the Washington, D.C. market and to helping Commercial clients reach their potential.'

Citizens is a trusted strategic and financial adviser, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.

For more information, please go to theCitizens Commercial Bankingwebsite.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $151.4 billion in assets as of September 30, 2017. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products and asset finance. More information is available atwww.citizensbank.comor visit us onTwitter,LinkedInorFacebook.