Oak Ridge, N.J. – June 14, 2021 – Lakeland Bank was pleased to provide refinancing for a single tenant medical office building in Princeton, New Jersey.
“During the early days of COVID-19, we saw healthcare systems, government agencies, and commercial insurers ease rules for telehealth options. However, there were certain verticals within the realm of treatment that simply were not able to provide care through this channel,” said Roberto Camacho, Vice President of Healthcare Lending. “We were thrilled to have the opportunity to refinance a commercial mortgage for a valued client who was looking for a better option to finance their medical office building. The single-tenant client was able to weather the most challenging days of the pandemic since they are a high touch provider whose patients had no alternative site of care to go to. We view this as just another example of why the off-campus model continues to be viable and why the migration trend is likely to continue.”
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.