Oak Ridge, N.J. – July 20, 2021 – Lakeland Bank was pleased to provide refinancing for two fully occupied medical office buildings located on the campus of Waterbury Hospital in Waterbury, Connecticut.
“Medical office buildings continue to be an active segment for real estate investors,” said Roberto Camacho, Vice President of Healthcare Lending. “Located on the campus of a major health system in Waterbury, these two buildings truly have a captive market. With over 60,000 square feet between the two buildings, we were excited to have the opportunity to refinance the properties that have maintained full occupancy for the last five years. The sponsors were equally thrilled to get themselves a very competitive rate freeing up more distributable earnings than available previously.”
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 New Jersey’s #1 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.