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.
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