Short Hills-based Investors Bank’s Commercial Real Estate Lending Group produced a record-breaking loan volume of $3.88 billion during 2021.
The Bank’s CRE lending team provides structured CRE loans to owners of multifamily housing, commercial and industrial properties, plus financing for new construction and large renovations. The bank primarily services CRE clients that own and manage or are developing properties in New Jersey, New York City, Long Island and Pennsylvania, as well as Delaware and Maryland.
Recently, the group completed 11 large CRE financing packages with a total loan volume of $331 million. The transactions included a $36 million transaction to refinance the loan on a 320,000-square-foot retail center in Middle Township.
In commenting on the results, Investors Executive Vice President and Head of the CRE Lending Group Joseph Orefice said: “Three key factors helped us achieve our extraordinary loan production in 2021. First, we aggressively pursued high-quality lending transactions by offering competitive pricing. Second, we increased the size of our CRE financing packages to complete institutional-quality loans. Third, we delivered an exceptional customer experience.
“Our CRE lending team gelled into a cohesive unit last year, even though we faced ongoing obstacles and hurdles, which we were able to overcome in each instance. Every person on our team turned in a superior performance right up to the final days of the year. As December ended, some clients wanted to lock-in lower rates for longer time periods, and our professionals responded to help our customers meet their goals.”
Some other recent CRE lending transactions in New Jersey:
- $18.9 million transaction to refinance the loan on a 98,870-square-foot multifamily housing property in Somerville; and a
- $16 million transaction to refinance the loan on a 789,551-square-foot retail shopping complex in Hillsborough.