Short Hills-based Investors Bank is poised to achieve its sixth consecutive year of a double-digit percent increase in loan growth with about $3.5 billion in commercial mortgage funding during 2015.
During November, the Bank’s CRE Lending Group completed six larger financing transactions valued at $117.5 million. Four of the loans were provided to multifamily housing properties that contain over 760 residential units.
In announcing the results, the Head of Investors Bank’s CRE Lending Group Joseph Orefice said, “We are focused on structuring and closing loans to meet our clients’ financing needs and timetables. After transactions are finalized, we strive to broaden our relationships by providing a range of business banking services.”
Looking ahead, Mr. Orefice added, “We expect to be a consistent provider of financing to the multifamily and CRE sectors in New York City and markets along the East Coast. Specifically, we plan to maintain the current mix of loans, which continues to be strong in the multifamily sector, while increasing our financing to office buildings, industrial properties and retail centers.”
Investors’ CRE Lending Group’s recent loan transactions are described below:
Investors’ Commercial Real Estate Lending Group is based at 101 JFK Parkway, Short Hills, and operates offices at 666 3rd Avenue in Manhattan; 1001 Highway 71 in Spring Lake Heights; 81 Court Street in Brooklyn; 31-33 31st Street, Astoria, Queens; and 2300 Route 93, Robbinsville.