A rendering of the next phase of the Team 85 Campus in Bordentown — Courtesy: Amboy Bank/K Johnson Enterprises LLC
By Joshua Burd
Amboy Bank has closed on some $51 million in financing to help a former NFL player develop more than 400,000 square feet of retail and medical office space in Bordentown.
The Old Bridge-based bank on Friday said it will provide the construction loans for K Johnson Enterprises LLC, a firm led by former wide receiver Kevin Johnson, for the next phase of the Team 85 Campus project. The deal marks the third time that Amboy has provided financing to K Johnson, the lender said, noting that both previous projects have also been in the city.
“Throughout our 130-year history as an independent bank, we have never lost sight of the fact that partnering with inventive individuals based in our own local communities boosts our success and creates a positive impact across New Jersey,” said Gregory Scharpf, CEO and president of Amboy Bank. “Having worked with Kevin since 2014, he has clearly demonstrated his commitment to his clients and his community, and we are pleased to provide support in this next venture.”
Amboy Bank previously provided $10 million to finance K Johnson’s 120,000-square-foot fitness center in Bordentown, which is called Team 85 Fitness and Wellness and provides fitness, sports, family and wellness services to local community members, according to a news release. The Hamilton native’s firm also received two additional loans from Amboy Bank totaling more than $40 million to develop medical building complexes, also on the Team 85 Campus in Bordentown.
The new retail and medical office space represents the next phase of the campus.
“Our relationship with Amboy Bank has grown into a true partnership,” said Kevin Johnson, CEO of K Johnson Enterprises LLC. “They continue to see the opportunity, believe in my vision and invest with me to better the Bordentown community. We’ve come a very long way together and intend to further strengthen that relationship well into the future. I look forward to beginning this next great project.”
Johnson, who played from 1999 to 2005, spent his first four and a half seasons with the Cleveland Browns before stints with the Jacksonville Jaguars, the Baltimore Ravens and the Detroit Lions.