NEW YORK CITY–Investors Bank has continued to diversify its commercial real estate loan portfolio by originating 15 larger financing transactions. These loans are on multifamily housing properties and commercial buildings that include offices, warehouses, retail and mixed-use space. The loans were on properties in New York City, New Jersey, and Philadelphia.
The larger transactions that the Investors Bank CRE Lending Group closed in recent weeks are valued at over $308 million. The transactions are divided among the following CRE sectors: eight multifamily housing properties with 894,000 square feet of space and over 1,000 residential units (including one co-op building); two office buildings covering 307,430 square feet of space, two mixed use properties with 193,078 square feet of space—including residences, retail space and offices; two warehouses with 920,055 square feet of space and one retail building spanning 122,600 square feet.
“Our loan volume remained steady throughout the year and we're building strong relationships with a broader range of property owners,” stated Investors Bank head of CRE lending Joseph Orefice. “While the CRE sector is monitoring changes taking place in a macro-economy – including interest rate increases, a new administration entering the White House, and potential for a corporate tax cut—our message to property owners and developers is that we have capital to lend. We're seeking new loan opportunities and have the expertise to structure and originate financing quickly.”
Among Investors' larger recent financing transactions were a $34 million loan to acquire an 89,600-square-foot multifamily housing property with 72 residential units and four commercial spaces in Brooklyn; a $17 million, two year, fixed-interest only loan to refinance a 160,793-square-foot warehouse in Brooklyn and an $11.2 million term loan to refinance multifamily housing buildings with a total of 53 residential units covering over 28,400 square feet of space in Manhattan, plus a $1 million line of credit for working capital.
The larger transactions that the Investors Bank CRE Lending Group closed in recent weeks are valued at over $308 million. The transactions are divided among the following CRE sectors: eight multifamily housing properties with 894,000 square feet of space and over 1,000 residential units (including one co-op building); two office buildings covering 307,430 square feet of space, two mixed use properties with 193,078 square feet of space—including residences, retail space and offices; two warehouses with 920,055 square feet of space and one retail building spanning 122,600 square feet.
“Our loan volume remained steady throughout the year and we're building strong relationships with a broader range of property owners,” stated Investors Bank head of CRE lending Joseph Orefice. “While the CRE sector is monitoring changes taking place in a macro-economy – including interest rate increases, a new administration entering the White House, and potential for a corporate tax cut—our message to property owners and developers is that we have capital to lend. We're seeking new loan opportunities and have the expertise to structure and originate financing quickly.”
Among Investors' larger recent financing transactions were a $34 million loan to acquire an 89,600-square-foot multifamily housing property with 72 residential units and four commercial spaces in Brooklyn; a $17 million, two year, fixed-interest only loan to refinance a 160,793-square-foot warehouse in Brooklyn and an $11.2 million term loan to refinance multifamily housing buildings with a total of 53 residential units covering over 28,400 square feet of space in Manhattan, plus a $1 million line of credit for working capital.
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