SHORT HILLS, NJ—Investors Bank's Commercial Real Estate Lending Group is moving strongly in its efforts to finance commercial projects. The bank recently completed more than $200 million worth of financing transactions, including a large industrial building in Fairfield, NJ and multifamily projects with more than 1,100 units from Dutchess County, NY to Wilmington, DE.
“We have significant expertise in evaluating loans for the full gamut of commercial real estate assets from industrial buildings to office space and mixed-use properties,” says senior vice president and head of CRE lending Joseph Orefice. “While Investors' CRE lending volume exceeds $2 billion annually, we continue to thoroughly review each loan application and make timely decisions on these financing requests.”
Recently completed transactions include:
- $33.5 million adjustable rate mortgage loan to purchase a 418,500 square-foot, industrial building in Fairfield, NJ.
- $31.5 million adjustable rate mortgage loan to acquire a multifamily property with 107 units and covering 78,562 square feet in Philadelphia, PA.
- $30 million fixed rate loan to refinance the commercial mortgage on Colonnades Apartments that has 560 units covering 557,200 square feet in Newark, NJ
- $21.9 million, adjustable rate mortgage loan to refinance a multifamily building consisting of 178 units spread over 190,244 square feet in Pleasant Valley, NY
- $21 million adjustable rate mortgage loan to refinance a 43,215 square-foot multifamily property with 42 units in Brooklyn, NY
- $20.5 million adjustable rate mortgage loan to purchase a multifamily building consisting of 44 units spread over 65,000 square feet in Brooklyn, NY.
- $18 million fixed rate mortgage to refinance a multifamily building with 49 units spread over 132, 012 square feet in Brooklyn, NY.
- $15.5 million fixed rate mortgage loan to refinance a multifamily property with 172 units and covering 161,136 square feet in Capital Heights, MD
- $15.1 million fixed rate mortgage loan to purchase a multifamily building with 75 units covering 213,425 square feet in Wilmington, DE.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
