Rendering of Team Campus, Bordentown, NJ
OLD BRIDGE, NJ—Amboy Bank and K Johnson Enterprises, a real estate and business development company founded and led by former NFL player Kevin Johnson, have closed on a sequence of construction loans totaling $51 million for the development and construction of more than 400,000 square feet of retail and medical office space as part of Johnson's existing Team Campus development in Bordentown, NJ.
This loan is the third to K Johnson from Amboy Bank. Amboy Bank previously provided $10 million to finance Team 85 Fitness and Wellness, K Johnson's 120,000 square-foot fitness center in Bordentown, which provides local community members a one-stop shop to meet their fitness, sports, family, and wellness needs. K Johnson also received two additional loans from Amboy Bank totaling more than $40 million to develop medical building complexes, also on the Team Campus in Bordentown.
“Throughout our 130-year history as an independent bank, we have never lost sight of the fact that partnering with inventive individuals based in our own local communities boosts our success and creates a positive impact across New Jersey,” says Gregory Scharpf, president and CEO of Amboy Bank. “Having worked with Kevin since 2014, he has clearly demonstrated his commitment to his clients and his community, and we are pleased to provide support in this next venture.”
“Our relationship with Amboy Bank has grown into a true partnership,” says Johnson. “They continue to see the opportunity, believe in my vision and invest with me to better the Bordentown community. We've come a very long way together and intend to further strengthen that relationship well into the future. I look forward to beginning this next great project.”
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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].
