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NEW YORK CITY-CIT Group Inc. has filed an initial public offering for Care Investment Trust Inc. with the Securities and Exchange Commission. The IPO is said to be valued at $275 million.

Care Investment Trust is a young real estate investment and finance company with plans to focus on healthcare commercial mortgage debt and real estate. CIT Healthcare LLC, part of CIT, will manage and advise the new company.

Care Investment Trust plans to qualify as a real estate investment trust and trade on the New York Stock Exchange under the ticker symbol CRE. It remains to be seen how many shares will be part of this initial offering and what price they will trade for.

Credit Suisse Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. will jointly manage the offering, according to a CIT release.

Locally based CIT manages or owns more than $74 billion of assets and employs roughly 7,300 people worldwide. A CIT spokeswoman declined to comment on the IPO beyond the issued release.

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