Investors Bank’s Relationship Building Drives Double-Digit Percent Increase in Annual Loan Growth

On Dec 18, 2015

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:

• $34 million adjustable-rate commercial mortgage to refinance a multifamily housing property with 178 residential units in a 161,225-square-foot building in Secaucus.

• $28.2 million fixed-rate commercial mortgage to acquire a multifamily housing property with 82 residential units in an 80,360-square-foot building in Brooklyn

• $20 million fixed-rate commercial mortgage to refinance a multifamily housing property with 431 residential units in a 398,431-square-foot building on the Upper East Side of Manhattan.

• $13 million fixed-rate commercial mortgage to refinance a 23,422-square-foot office property in Brooklyn, N.Y.

• $11.2 million adjustable-rate commercial mortgage to refinance a 90,168-square-foot shopping center in Perkasie, Penn.

• $11.1 million fixed-rate mortgage to refinance a multifamily housing property with 72 residential units in an 88,192-square-foot building in Willingboro.

Investors’ Commercial Real Estate Lending Group is based at 101 JFK Parkway, Short Hills, and operates offices at 666 3^rd Avenue in Manhattan; 1001 Highway 71 in Spring Lake Heights; 81 Court Street in Brooklyn; 31-33 31^st Street, Astoria, Queens; and 2300 Route 93, Robbinsville.

 

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