16A — June 9 - 22, 2017 — Creative Financing — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
C reative F inancing
Senior lending team originates $828.8 million Investors Bank achieves solid growth in commercial real estate lending during Q1 2017 S
is divided among three market segments: multi-family hous- ing, office buildings/mixed-use properties and new construc- tion. The CRE Lending Group completed $498.4 million in multi-family loans, $234.7 mil- lion in commercial real estate financing, and $95.7 million in new construction credits. The properties are located in New York, New Jersey and the greater Philadelphia area. In reviewing Investors Bank’s financing transac- tions, head of CRE Lending Joseph Orefice said, “Our loan volume demonstrates that we have the capabilities
and capital resources to meet our clients’ financing needs.” Investors Bank CRE’s senior lending team initiated and finalized the following com- mercial mortgage transactions in recent weeks: New Jersey • $41.5 million to refinance a 187, 900 s/f multi-family hous- ing property with 200 residen- tial units in Florham Park • $26.6 million to refinance a 138,600 s/f multifamily hous- ing property with 148 residen- tial units in Sayreville • $15 million to refinance a 50,500 s/f mixed-use property with 25 offices and three retail units in Hoboken • $10.5 million to refinance a 60,800 s/f office building in Lakewood. New York • $43 million to refinance a 270,000 s/f multi-family hous- ing property with 160 residen- tial units in Orangetown • $27 million to acquire a 113,500 s/f multi-family hous- ing property with 102 residen- tial units in Brooklyn • $18 million term loan to refinance a 395,000 s/f co-op apartment building with 446 residential units in Rego Park plus a $1 million line of credit (LOC) for working capital New York City and State, continued • $16.5 million term loan to refinance a 365,400 s/f co-op apartment building with 441 residences and two commer- cial units in Mineola plus a $1 million LOC for working capital • $17 million to refinance a 49,300 s/f mixed-use property with 42 residences and two commercial units in Brooklyn • $12.5 million term loan to refinance a 273,900 s/f co-op apartment building with 277 residential units and two com- mercial units in Brooklyn plus a $2 million LOC for working capital • $12 million to refinance a 25,000 s/f retail space in Armonk • $10.8 million to acquire a 25,600 s/f mixed-use property with 35 residences and two commercial units in Manhat- tan • $10.4 million to refinance a 27,000 s/f retail property with four units in Brooklyn. Pennsylvania • $25 million commer- cial mortgage to refinance a 174,900 s/f office building in Philadelphia. n
hort Hills, NJ — Investors Bank an- nounced solid growth in its commercial mortgage lending during the first quar- ter of 2017, when compared to the same period in 2016. The Bank’s senior lending team originated $828.8 million in commercial real estate (CRE) loans between January 1 and March 31, 2017, compared to a total volume of $697.9 mil- lion during the same period in 2016. The Investors Bank Com- mercial Real Estate (CRE) Loan Group’s loan production
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