Investors Bank completed over $1.4 billion in commercial real estate (CRE) loan transactions during the first half of 2017. Focused on diversifying its loan portfolio, Investors Bank’s CRE Lending Group provided commercial mortgages for multifamily housing, mixed-use properties, office buildings, warehouses, shopping centers, and distribution facilities. The CRE Lending Group also originated construction loans. The Bank primarily finances CRE properties that are located in New York City, New Jersey, and Philadelphia as well as the surrounding Eastern Pennsylvania region.
In discussing the loan volume, Investors Bank Head of CRE Lending Joseph Orefice said, “We are very satisfied with type, number and total value of the financings we have completed so far this year. Our senior lenders have developed significant relationships with building owners and developers because we have the capabilities to meet their credit needs in a timely, an efficient and a responsive manner. We have the capital, and we’re ready to make CRE and multifamily housing loans.”
In recent weeks, the CRE Lending Group closed three major loan transactions with a total value of over $40 million. Here are details:
- $15.6 million construction loan for a planned, 75,800-square-foot building in Jersey City that will have 91 residential units and two commercial spaces
- $14.9 million loan to refinance a 86,640-square-foot shopping center in Brooklyn
- $10 million loan to refinance multifamily housing properties in Philadelphia that have a combined total of 90 residential units, four retail spaces, 21 offices, one parking lot and a large storage area covering 93,900 square feet.
To speak with Investors Bank about commercial lending needs, please call:
- Joseph Orefice, New York City office. at 646-293-5643
- Andrew Markey, Short Hills, New Jersey office, at 973-522-3837
- Marc Katz, New York City office, at 646-358-8382
- Tim Touhey, Robbinsville, New Jersey, at 609-937-0037