6A — March 10 - 23, 2017 — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest
Uptick in loan volumes began after Election Day and continues in 2017 Investors Bank is meeting the increasing demand for financing from the CRE & multifamily housing sectors S pleted 11 transactions valued at over $202 million.
By the 2016 year-end, the com- pany’s results showed that the CRE Lending Group originated $3.2 billion in new loans. Ad- ditionally, 2016 was a record year in financing commercial projects in the office, retail, and mixed-use sectors. Investors Bank Head of CRE Lending Joseph Orefice said, “We expect that more of our commercial clients prefer to lock in financing now because of the uncertainty around interest rates. Even though rates may move higher, we see a renewed optimism among our clients that businesses are entering a new phase of positive growth. Anticipating an increase in demand for CRE financing, we have expanded our lending team to deliver the exceptional service our clients expect for us.” Orefice highlighted the fol- lowing transactions that were recently completed by the In- vestors Bank CRE Lending Group: • $14.8 million loan to re- finance an 111,000 s/f office building in Branchburg, NJ • $13 million loan to refi- nance nine retail properties with a total of 169,000 square feet of space, located across Northern New Jersey • $16.7 million term loan to purchase a 124,600 s/f office building in King of Prussia, PA n March 20: Herrick to speak at 34th Annual Regional Conference of MBA Atlantic City, NJ — SanfordHerrick , founder and managing principal of Case
hort Hills, NJ — Investors Bank is suc- cessfully meeting the in- creasing demand for financing from the commercial real estate (CRE) and multifamily housing sectors. The uptick in CRE loan activity began after Election Day, gained momentum in De- cember and has continued into 2017, according to the Investors Bank CRE Lending Group. In recent weeks the CRE Lending team closed six large transactions with a total loan value of $107 million. As 2016 came to an end, Investors Bank’s senior lenders com-
Currently, the Bank is con- centrating on financing multi- family housing and commercial properties in New Jersey, the greater Philadelphia area, New York City and New York State. The CRE Lending Group is also gaining traction in diversifying its loan portfolio by providing more financing to owners of office buildings, large-scale re- tail properties and warehouse facilities. Investors Bank just reported its fourth quarter and full year financial performance for 2016.
Investors Bank recently provided $14.8 million in CRE loans to refi- nance a multi-building office park in Branchburg, N.J. The 15 building complex contains over 111,000 square-feet of comercial office space.
Recently Closed Loans
$2,350,000 $23,000,000 $6,000,000 Office Redevelopment Bridge Loan Shopping Center Construction Loan Office Redevelopment Bridge Loan Moorestown, NJ Blue Bell, PA Pennsauken, NJ 75% LTC, 24 Months, WSJP + 150 bps 75% LTC, 36 Months, LIBOR + 210 bps 75% LTV, 24 Month, LIBOR + 300 bps
Real Estate C a p i t a l , LLC (Case) , will partici- pate on the panel for the “Navigating the Ocean of N o n - B a n k and Alterna-
Real Property Capital is a Philadelphia based full service commercial mortgage banking firm with a regional focus and national capabilities. Our business model emphasizes client satisfaction through a high-touch, analytical approach that distinguishes us from the competition. Learn more about our distinct approach and proven track record of success at www.realpropertycapital.com . FOR MORE INFORMATION: R. Brenner Green, President 303 Harry Street • Conshohocken, PA 19072 • 610-456-9644 • bgreen@realpropertycapital.com
Sanford Herrick
tive Lenders” session at the 34th Annual Regional Confer- ence of Mortgage Bankers As- sociations. The session will take place on Monday, March 20, from 1:45 to 3 p.m. at Harrah’s Convention Center in Atlantic City. Herrick has orchestrated investments in more than $5 billion worth of commercial real estate over the course of his 30+-year career. n
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