Raymour & Flanagan secures $16M loan to purchase White Plains showroom

Raleigh, North Carolina-headquartered First Citizens Bank announced that its Middle Market Banking business provided $16 million in financing to Raymour & Flanigan for the purchase of an existing furniture showroom in White Plains.

The 70,000-square-foot showroom at 1 Maple Ave. has two floors, and the building includes a lower-level parking garage and surface parking. The building also contains a passenger elevator, freight elevator and three loading docks.

“We appreciate First Citizens’ capabilities in arranging financing to support the purchase of this property,” said Adam Wasileski, director of real estate at Raymour & Flanigan. “This furniture showroom will allow us to provide a more robust and convenient shopping experience to White Plains and the surrounding area than our current location.”

“Raymour & Flanigan is a leader in the furniture retail industry,” said Brendan Chambers, head of First Citizens Middle Market Banking. “We are excited about the opportunity to work with them as they expand their business.”

Photo courtesy Raymour & Flanagan