Oak Ridge, N.J. – May 4, 2021 – Lakeland Bank was pleased to provide a $20,700,000 loan for the construction of an Assisted Living and Memory Care facility in Marlton, New Jersey.
“It’s always exciting for us to work with an existing client and this group in particular has a niche that we deeply admire. This is the third comparable facility we partnered with on a construction loan. The opportunity to work with the client from the pre-work of a feasibility study to selecting top-tier developers made the project very appealing to finance,” said Ron Krauskopf, Senior Vice President of Healthcare Lending. “These operators have a distinguished product in the market and have demonstrated the ability to weather the unpredictability of a construction project and the subsequent ramp-up of a private pay facility. We were thrilled to be considered once again to be a capital partner for this group.”
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 $7.7 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.