FORT LEE, N.J.--(BUSINESS WIRE)--Cross River Bank (“Cross River”), a New Jersey State chartered FDIC-insured bank and Equal Housing Lender known for its diversified commercial real estate (“CRE”) lending program and deep market experience, today announced that the 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,” said Shimon Eisikowicz, EVP and Chief Lending Officer at Cross River. “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, healthcare 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 asset-wide success in the past year, including strong growth in lender finance originations.
About Cross River Bank Commercial Real Estate
Cross River Bank’s Commercial Real Estate (“CRE”) team assists property owners, investors, brokers and institutions in identifying and accessing the right financing products, with a streamlined approval process, resulting in faster closing times. While the CRE team specializes in the New York, New Jersey and Connecticut metro areas with loans ranging from $250,000 to $81 million, the Lender Finance platform is designed to reach an expanded national audience, complementing Cross River’s existing CRE business focused in the tri-state area. For more information, please visit www.crossriver.com/lender-finance.