Investors Bank broadens CRE Loan Portfolio and adds $115 million more in new lending

New York, NY Focused on diversifying its portfolio of commercial real estate (CRE) loans, Investors Bank recently closed multimillion dollar financings to retail shopping centers, mixed-use properties, warehouses and multifamily buildings.  Also, the Bank is expanding its relationships to include a broader base of building owners and property developers in the New York Metropolitan area and the Mid-Atlantic region. As the third quarter ended, Investors CRE Lending Group originated nine, larger loans valued at over $114 million. According to Investors Bank Head of CRE Lending Joseph Orefice, “Our goal is two-fold. First, we are adjusting the mix of loans in our commercial portfolio. Secondly, we are looking to create opportunities for our business bankers to build direct relationships with CRE firms that can use our cash management and professional banking services.” The larger financing packages originated by Investors' CRE Lending Group are detailed below: $18 million adjustable rate mortgage (ARM) loan to refinance a 166,379 s/f shopping center in Malvern, Penn. $15.6 million fixed-rate loan from Investors, which participated in the financing of a 128,599 s/f, office building in Hauppauge, N.Y. $15.5 million fixed-rate loan to refinance a multifamily building with 53 units in 75,000 s/f of space in Elmwood Park, N.J. $14.1 million fixed-rate loan from Investors, which participated in the financing of a mixed-use property with 7,500 s/f of retail space and 88,000 s/f of office space in midtown Manhattan. $11 million fixed-rate loan from Investors, which participated in the financing of mixed-use property with 56,000 s/f of retail space and 33,850 s/f of office space in Nesconset, N.Y. $10.9 million fixed-rate loan from Investors, which participated in the financing of a mixed-use property with 55,516 s/f of office space and 10,570 square feet of retail space in the Bronx. $10.5 million fixed-rate loan from Investors, which participated in the financing of a 60,000 s/f retail building in Queens. $10 million fixed-rate loan to refinance a 143,214 s/f shopping center in Old Bridge, N.J. $10 million ARM loan to refinance a 213,373 s/f warehouse in Union, N.J. Investors’ Commercial Real Estate Lending Group is based at 101 JFK Parkway, Short Hills, N.J. and operates offices at 666 3^rd Avenue in Manhattan; 1001 Highway 71 in Spring Lake Heights, N.J.; 81 Court Street in Brooklyn; 31-33 31^st Street, Astoria, Queens; and 2300 Route 93, Robbinsville, N.J. Headquartered in Short Hills, N.J., Investors Bank, which is one of the largest regional banks based in the Garden State, was founded in 1926.  With more than $20 billion in assets, the Bank has a network of over 135 retail branches located in New York City and New Jersey and on Long Island. Investors’ consumer banking services include deposit products, online and mobile banking services, home equity loans and lines of credit, personal investing programs, and a full array of home mortgages. Serving the business community, Investors provides deposit accounts, cash management services, business loans, and commercial financing solutions to small and middle market companies, professional services firms, municipalities, non-profits, healthcare practices, and many business organizations.  Investors is a member of the FDIC and an Equal Housing Lender.