Oak Ridge, N.J. – Dec. 2, 2020 – Lakeland Bank was pleased to be the lead bank on a $40,000,000 refinance of a five-site medical office building acquisition in Northeast Pennsylvania to a premier National Real Estate Investment Group.
“COVID-19 has disrupted the status quo of commercial real estate across the country, however with the right partners, opportunities still exist in the marketplace,” said Ron Krauskopf, Senior Vice President, Healthcare Banking. “Across these assets, we felt each one had the right anchor tenants and the Investment Group behind the acquisition understood the healthcare needs of the respective communities. In addition to crafting a loan structure that was both appropriate and attractive, our Borrower trusted Lakeland to identify a suitable participant bank. On sizeable transactions like this, ‘Execution Risk’ is something that can keep investment groups up at night and the lead bank should know where the market is. We were thrilled to close this loan and certainly view it as a marquee transaction for the Bank.”
Lakeland Bank’s Healthcare Banking experts are here to help by providing customized solutions for unique challenges within the healthcare industry. Lakeland Bank’s Healthcare Banking offers comprehensive lending and treasury management solutions to organizations across the healthcare spectrum. Our experienced lenders utilize a relationship banking approach, allowing them to provide value in many different verticals to various businesses. We provide financial solutions to nonprofit organizations, hospitals, higher education, senior living facilities, private equity groups, medical office building buyers, real estate investment trusts, large medical practices, behavioral health and ambulatory/outpatient facilities.
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $7 billion in total assets. With an extensive branch network and commercial lending centers throughout New Jersey and Highland Mills, N.Y., the Bank offers business and retail banking products and services. Business services include commercial loans and lines of credit, commercial real estate loans, loans for healthcare services, asset based lending, equipment financing, small business loans and lines, and cash management services. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as a Best-In-State Bank by Forbes and Statista, rated a 5-Star Bank by Bauer Financial and named one of New Jersey’s 50 Fastest Growing Companies by NJBIZ. Visit LakelandBank.com for more information.