SHORT HILLS, NJ— Underscoring remarks by its head of CRE lending, Investors Bank's recently originated six commercial mortgages valued at $128 million for the purchase of multifamily properties, refinancing of mortgages and for financing the construction of an apartment building in New York City.

The buildings have a total of 1,542 living units spread over four million square feet of multifamily housing space.

Investors Bank is shifting its strategic focus and broadening its CRE lending to include more industrial facilities (including warehouses) and retail shopping centers, the bank says. The bank recently wrote a $26 million adjustable rate mortgage to refinance the commercial mortgage on a shopping center in Bayonne, and a $31.5 million ARM to refinance a shopping center in Enfield, CT.

In addition, Investors is seeing an uptick in closing commercial mortgages on owner-occupied building and facilities, and to better meet the financing realities of owners/managers of industrial and retail properties, Investors says it is adjusting the interest rates on those loans.

During July, Investors completed seven transactions valued at $153.7 million, including refinancing commercial mortgages for multifamily housing buildings in Willingboro, Rochelle Park, Bayonne and Harrison.

In an exclusive Q&A today with GlobeSt.com, Investors CRE head Joseph Orefice told GlobeSt.com, "Investors Bank will likely increase the pace of its commercial mortgage originations during the remainder of 2015. Investors Bank is on track to produce another year-over-year increase in the total amount of CRE financing. Each year since 2009, when our CRE Lending Group was launched, we have originated more loans than the previous year, and now the total lending portfolio is valued at more than $9.3 billion."

During June, the bank's CRE Lending group also originated a range of financing in the $1 million to $3 million range for multifamily and commercial properties in NJ, NY and nearby regions.  

“As a constant force in real estate financing, we are known as a stable and consistent player that has significant capital resources to lend,” says Orefice. “Based on the pace of our loan originations during the first six months, we are well along the path to closing a record level of financing this year.”

Investors Bank also recently completed these larger lending transactions:

• $41.3 million adjustable rate mortgage to purchase a multifamily housing property with 674 living units in a building with 680,364 square feet of residential space in Washington, DC.

• $34 million adjustable rate mortgage to refinance the loan on a multifamily housing property with 288 living units in a building with 266,430 square feet of residential space in Camp Hill, PA, near Harrisburg.

• $16.6 million adjustable rate mortgage, part of a syndicated loan transaction, to purchase a multifamily property with 142 living units in a building with 183,728 square feet of residential space in Teaneck, NJ.

• $14.5 million fixed rate mortgage to refinance the loan on co-op building with 235 living units in a building with 384,680 square feet of residential space in Fort Lee, NJ.

• $11.5 million interest-only loan to construct a multifamily property that will have 43 living units in building with 37,566 square feet of residential space in Manhattan.

• $10 million fixed rate mortgage to refinance the loan on nonprofit organization's facility with 160 living units in building with 49,644 square feet of residential space in Far Rockaway, NY.