Investors Bank recently reported that it originated more than $412.5 million in commercial real estate and multifamily financing during the first quarter of 2019.
In recent weeks, Investor Bank’s senior lenders completed commercial mortgage transactions valued in excess of $130 million.
The bank’s Commercial Real Estate (CRE) Lending Group maintains a diversified portfolio of loans. The group provides commercial mortgages to companies that own industrial warehouses, distribution centers, mixed-use and office buildings, cooperative apartments, multifamily housing properties, and retail shopping centers. Those properties and facilities are primarily located in New Jersey and New York City.
“Our team is consistently building relationships with commercial real estate firms by structuring loans that meet our client’s financial needs,” said Investors Bank’s Head of the CRE Lending Group Joseph Orefice. “We’re cautiously optimistic that the demand for CRE lending will increase at a modest rate from now through December.
“We’re actively refinancing properties,” said Mr. Orefice. “One of our priorities is to maintain our current loan portfolio while originating new financing. However, one particular headwind is that the number and type of lenders continue to grow, and each day we’re facing more competition,” he added.
“Right now, we’re concentrating our resources in the commercial real estate sector while serving our clients in multifamily housing and mixed-use space.”
One of Investors’ larger and recently completed CRE loans was a $30 million transaction. The bank refinanced a loan on a 396,896-square-foot office building with 61 units in Bloomfield, New Jersey.
The bank’s CRE lenders also closed the following loans:
- $24 million loan to acquire a 165,742-square-foot office building with 11 units in Evesham
- $15 million loan to refinance a 132,549-square-foot shopping center with 26 retail units in Freehold.
Investors Bank’s CRE Lending Group is based in Manhattan, and it is led by Executive Vice President Joseph Orefice. To speak directly with Investors Bank about CRE financing, please contact:
· Joseph Orefice, New York City office, at 646-358-8381
· Andrew Markey, Short Hills, New Jersey office, at 973-522-3837
· Marc Katz, New York City office, at 646-358-8382