Short Hills-based Investors Bank Commercial Real Estate Lending Group recently originated 15 financing transactions valued at $308.3 million for a range of buildings.
The structured loans were used to refinance 10 commercial mortgages, construct two properties and acquire three buildings throughout New Jersey, New York, Pennsylvania and Connecticut.
New Jersey transactions include a $30.8 million loan to refinance a multifamily housing property in Middlesex; a $15 million construction loan to build a multifamily property in Somerville; a $12 million loan to construct a mixed-use building in North Bergen; and a $10 million loan to refinance a multifamily housing property in Woodbridge.
“We began 2018 in earnest with competitive programs and pricing,” Investors Bank Head of CRE Lending Joseph Orefice said “Our senior lenders expect to continue broadening the lending platform this year by targeting commercial assets that go along with the Bank’s strong financing in the multifamily housing sector. The first half of 2018 looks solid because we have a good market reception that contributes to a positive deal flow.”