Cross River’s CRE Lender Finance team this week announced it closed over $66 million in private warehouse facilities. Additionally, the team saw 100 percent growth in the number of loans originated in Q1 and Q2 2023, compared to the same quarters in 2022.
“Closing over $66 million in Lender Finance loans in a challenging macroeconomic environment for the commercial real estate industry, is a testament to our exceptional growth and strong demand for financing solutions among borrowers,” Shimon Eisikowicz, EVP and chief lending officer at Cross River said. “Leveraging technology as an innovative, reliable, and transparent leader in the CRE arena, we are proud to continue meeting the evolving needs of our borrowers while maintaining strict credit standards.”
By leveraging the Fort Lee-based financial institution’s Lender Finance platform, Cross River’s team of seasoned CRE professionals can create customized warehouse credit solutions backed by a streamlined and compliant underwriting and closing process, often closing loans faster than a traditional bank. The team’s expertise enables clients nationwide to further grow their business with an efficient and lower cost of capital.
With an additional $130 million anticipated in live deals already in the pipeline, Cross River continues to demonstrate its commitment to providing innovative financial solutions and remains focused on meeting the evolving needs of its borrowers across the nation. The closure of over $66 million in loans under the Lender Finance platform highlights Cross River’s strong market presence and ability to deliver tailored financing solutions.
