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Wells Fargo establishes REIT service group

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Wells Fargo & Co. has established a group to provide financial services to publicly traded real estate investment trusts (REITs) that are involved in commercial properties, the Phoenix Business Journal reported.

The REIT Finance Group will provide corporate banking services, lines of credit, term loans and construction loans to REITs. It also will also work with Eastdil Secured, a Wells Fargo subsidiary, for real estate investment banking services, and with Wells Fargo Securities for capital markets needs. The group’s primary offices will be in Charlotte, Chicago and Los Angeles.