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 its Commercial Banking Group (CBG) has closed more than $1 billion in financing over the past 12 months. Spread across 65 loans nationwide, the deals ranged from $380,000 to $50 million, supporting real estate businesses of all sizes, as well as various asset types.
“With a forward-thinking strategy focused on leveraging technology, and structuring and syndicating solutions for our clients, our team has achieved incredible success surpassing $1 billion in financing,” said Shimon Eisikowicz, EVP and Chief Lending Officer at Cross River. “We continue to transform bank lending with the strength of our diverse portfolio and commitment to credit integrity which is reflected in our enduring progress and client’s growth.”
This significant milestone builds on the CBG’s year-over-year growth. The financing speaks to the Group’s strategic approach to portfolio diversity, supporting multiple asset classes including, multifamily, retail, commercial, mixed-use, office, warehouse, industrial, senior housing and skilled nursing facility, and construction.
By combining technology with banking expertise, solutions are tailored to empower businesses to succeed while emphasizing and maintaining strong credit quality. As evidenced by its notable success, the CBG’s continued upward momentum underscores the bank’s dedication to adapting to borrowers’ evolving needs via an innovative approach to technology, origination, syndication and structuring in commercial real estate transactions.
About Cross River Commercial Banking Group
Cross River’s Commercial Banking Group (“CBG”) assists property owners, investors, brokers, and institutions in identifying and accessing the right loan and banking products. The Group leverages technology coupled with a streamlined approval process, often resulting in more expeditious closing times and specializes in the following loan and asset classes:
The Commercial Real Estate (“CRE”) division focuses on the New York, New Jersey, Connecticut, and Pennsylvania metro areas servicing a variety of asset classes and loans ranging from $250,000 to more than $100 million. Asset classes include multifamily, retail, mixed-use, commercial, industrial, fractured condos, co-ops and investment properties. The CRE division also originates and services construction and bridge loans for ground-up construction, renovation, land acquisition, and partially or fully vacant properties.
The group’s Lender Finance (“LF”) platform is designed to reach an expanded national audience, complementing Cross River’s existing commercial real estate business providing note-on-note and warehouse lines of credit to bank and non-bank lenders and partners in all 50 states.
The group’s Healthcare Lending (“HC”) team focuses on term loans and bridge loans secured by various types of healthcare properties nationally.
Cross River’s Commercial Banking Group serves as a strategic partner to other banks and non-banks in real estate syndications. To learn more, please visit www.crossriver.com.