Oak Ridge, N.J. – November 19, 2021– Lakeland Bank was pleased to provide a $16,250,000 commercial mortgage to a Delaware Statutory Trust for the acquisition of a Private Pay Assisted Living Facility in Easton, Maryland.
“When we meet with potential borrowers, our goal is to learn about their internal and external efforts to drive census,” said Roberto Camacho, Vice President of Healthcare Lending. “This operator was unique in that they meet weekly to discuss what to do with excess census and it was very impressive to work with an operation with seemingly no visible weakness. We see the higher-end private pay platform perform well in a healthy and vibrant community that has a strong understanding of product knowledge and that was the case in the Eastern shore region of Maryland.”
Lakeland Bank’s Healthcare Banking experts are here to help by delivering 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.
Senior Vice President, Healthcare Lending
Vice President, Healthcare Lending
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $8.1 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 New Jersey's #1 Best-In-State Bank by Forbes and Statista, named a Best Bank To Work For by American Banker and Best Companies Group, 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.