Investors Bank Commercial Real Estate (CRE) Lending Group originated $3.09 billion in financing transactions in 2015.
The financing included $2.08 billion in commercial mortgages to the multifamily housing sector and $936.9 million in CRE loans for office buildings, retail shopping centers and warehouse space.
Also, the Bank’s CRE lenders completed $82.5 million in construction loans. Investors’ CRE Lending team recently completed nine loan transactions valued at over $150 million. The Bank also originated many commercial mortgages in the $1 million to $3 million range. In addition, the Group has a strong pipeline of pending financing transactions.
In announcing the commercial mortgage transactions, Investors Bank Head of CRE Lending Joseph Orefice said, “Fortunately our Bank has significant capital reserves, and for that reason and others, building owners and management firms have come to rely us for their financing needs. “We will continue to make prudent loans to the multifamily housing and CRE sectors, and we are already ahead of our annual loan-growth forecast.
“Overall, we are projecting a moderate increase in lending through the first quarter based on our proven ability to keep loan applications moving through our pipeline to closing.”
Investors nine, larger financing transactions are divided into four categories: student housing, multifamily (which includes co-op apartment properties) office buildings and retail shopping areas.