Banking, Finance & Accounting

Investors Bank makes series of mortgage loans

By Eric Strauss, July 18, 2014 at 9:45 AM

Investors Bank announced recently that it has raised $2.2 billion in capital through a stock offering, and is using some of the money to fund commercial mortgages.

The bank’s Commercial Real Estate Lending Group, based in Short Hills and with offices in Spring Lake Heights, Robbinsville and New York City, said in a news release it had completed 12 loans valued at $234 million, including several in New Jersey.

Deals included:

A $36.5 million adjustable-rate mortgage to purchase a 154-unit multifamily building in Morristown;
A $25 million line of credit to construct a 355-unit hospitality property in Lakewood;
A $19.5 million adjustable-rate mortgage to buy a 151-unit multifamily property in Lakewood;
A $19.4 million adjustable-rate mortgage to purchase an office building in Jersey City’s Journal Square area;
A $13.5 million fixed-rate mortgage to refinance an office building in Englewood Cliffs;
A $12 million adjustable-rate mortgage to refinance a shopping center in Wall;
And a $10 million fixed-rate mortgage to refinance a 352-unit multifamily property in Ewing.

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Eric Strauss

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Eric Strauss is the Managing Editor of NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com.