Investors Bank continues to grow its portfolio of commercial mortgages loans in the multifamily housing sector.
In the last two months, the Bank’s Commercial Real Estate Lending Group has completed six, large multifamily financing transactions valued at over $112 million and several smaller commercial real estate loans.
Director of the Commercial Real Estate Lending Joseph Orefice commented, “We remain focused on building productive relationships with companies that own, manage and develop multifamily housing and commercial real estate properties.
“Our loan officers in New Jersey and New York are on track to close over 700 financing transactions in 2013.”
Multi-family loans completed in the last 60 days include a $22.5 million, adjustable rate mortgage to purchase a 79-unit multifamily property in Queens; A $17.5 million, adjustable rate mortgage to purchase a 65-unit multifamily property, also in Queens; $14.25 million, adjustable rate mortgage to refinance multifamily buildings comprising 60 units spread over various locations and $14.2 million, fixed rate mortgage to acquire a 43-unit multifamily building in Brooklyn, NY with 43 units.
