Fort Lee-based Cross River Bank, a New Jersey state-chartered, FDIC-insured bank and equal housing lender known for its diversified commercial real estate lending program, said in an announcement that its team has closed 78 loans nationwide in the past 12 months, totaling over $840 million. With loans ranging from $450,000 to $81 million, the team supports the smallest to largest real estate business across the country, in multiple asset types.
“Achieving close to $1 billion in financing over the past 12 months for varying asset classes and markets speaks volumes to our drive and commitment to our clients in these challenging times,” Shimon Eisikowicz, executive vice president and chief lending officer at Cross River, said. “While other lenders have closed the door on their clients, we’ve used this opportunity to work closely with our borrowers and produce tailored solutions for them without compromising on credit quality.”
The financing, closed through the Bank’s CRE, Construction, Healthcare and Lender Finance teams, will support multiple asset classes, including multifamily, retail, industrial, mixed-use, construction, warehouse, health care facilities and lines of credit. The loans demonstrate the bank’s commitment to meeting the evolving needs of borrowers with customized credit solutions backed by a streamlined and compliant underwriting and closing process.
Cross River’s CRE team has achieved assetwide success in the past year, including strong growth in lender finance originations.