SHORT HILLS, NJ—Investors Bank's CommercialReal Estate Lending Group is moving strongly in its efforts tofinance commercial projects. The bank recently completed more than$200 million worth of financing transactions, including a largeindustrial building in Fairfield, NJ and multifamily projects withmore than 1,100 units from Dutchess County, NY to Wilmington,DE.
“We have significant expertise in evaluating loans for the fullgamut of commercial real estate assets from industrial buildings tooffice space and mixed-use properties,” says senior vice presidentand head of CRE lending Joseph Orefice. “WhileInvestors' CRE lending volume exceeds $2 billion annually, wecontinue to thoroughly review each loan application and make timelydecisions on these financing requests.”
Recently completed transactions include:
- $33.5 million adjustable rate mortgage loan to purchase a418,500 square-foot, industrial building in Fairfield, NJ.
- $31.5 million adjustable rate mortgage loan to acquire amultifamily property with 107 units and covering 78,562 square feetin Philadelphia, PA.
- $30 million fixed rate loan to refinance the commercialmortgage on Colonnades Apartments that has 560units covering 557,200 square feet in Newark, NJ
- $21.9 million, adjustable rate mortgage loan to refinance amultifamily building consisting of 178 units spread over 190,244square feet in Pleasant Valley, NY
- $21 million adjustable rate mortgage loan to refinance a 43,215square-foot multifamily property with 42 units in Brooklyn, NY
- $20.5 million adjustable rate mortgage loan to purchase amultifamily building consisting of 44 units spread over 65,000square feet in Brooklyn, NY.
- $18 million fixed rate mortgage to refinance a multifamilybuilding with 49 units spread over 132, 012 square feet inBrooklyn, NY.
- $15.5 million fixed rate mortgage loan to refinance amultifamily property with 172 units and covering 161,136 squarefeet in Capital Heights, MD
- $15.1 million fixed rate mortgage loan to purchase amultifamily building with 75 units covering 213,425 square feet inWilmington, DE.
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