Oak Ridge, N.J. – May 25, 2021 – Lakeland Bank was pleased to provide financing for the purchase of two medical condo units in West Orange, New Jersey.
“With health systems continuing to consolidate and continuing to move more services off-campus, we continue to see more activity in medical office buildings, and in this case, condominiums as well. As a result of these trends, smaller non-institutional investors have found attractive opportunities across our footprint ranging from off-campus medical office buildings to individual medical condos,” says Roberto Camacho, Vice President of Healthcare Lending. “This was a great opportunity for a private investor to get exposure to a multi-billion-dollar system without committing an overwhelming amount of capital that could otherwise be required in a larger medical office building or an on-campus asset. This was an exciting loan for us to underwrite and underscores the importance of fostering and building on personal relationships throughout our community.”
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.