Investors Bank completed $2.2 billion in commercial real estate lending transactions in 2020, it announced Friday.
The Short Hills-based bank said in a news release that it provided loans for refinancing of existing commercial mortgages, acquisitions of facilities and construction of multifamily housing properties, among other transactions.
“We had a very successful year in 2020,” Head of CRE Lending Joseph Orefice said in a prepared statement. “Our senior lenders continue to work closely with our clients during these trying times to structure financing to meet their specific financing needs.”
Transactions included a $25 million construction loan for a multifamily housing project in Lawnside, as well as a $16 million refinancing on a Ramsey office building and a $14 million refinancing on a mixed-use property in Montclair.
“Last summer, we pivoted and adjusted our lending strategy,” Orefice said. “The trend continues, and we see select financing opportunities among various CRE sectors, including construction.”