Oak Ridge, N.J. – April 20, 2021 – Lakeland Bank was pleased to refinance a Medical Office Building in Maywood, New Jersey for $3,100,000.
“With vaccinations underway, we are seeing elective services start to rebound and regulatory considerations have led us to believe outpatient settings will continue to see foot traffic. COVID-19 has proven that there are certain verticals of healthcare that are high-touch and not easily adaptable to a telehealth platform, and the physical spaces are still needed,” said Roberto Camacho, Vice President of Healthcare Lending. “We were pleased to not only be able to bring immediate savings to the borrower, but also help secure a part of the principals’ long-term financial strategy with a competitive rate for the next five years on this asset.”
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.
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $7.6 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.