Eastern Union Loan Closings Reach 17-Month High

August Results Encompass Loans From 45 Lenders Across the United States

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Sep 02, 2021, 11:57 ET

NEW YORK, Sept. 2, 2021 /PRNewswire/ -- Eastern Union, one of the country's largest commercial real estate finance firms, secured 80 closings in August, a figure representing the company's highest monthly closing volume in seventeen months.

Demonstrating the firm's geographic reach and its substantial roster of lending sources, the August closings represented properties in 16 states -- and were secured through 45 lenders. The assets reflected ten different property types.

Ira Zlotowitz is founder and president of Eastern Union.

Eastern Union also generated a brisk pace of loans placed under application in August, often a slow-moving month. Brokers put 91 loans under application reflecting twelve different property types, working with more than 45 lenders, and involving assets situated in 21 states.

Among August's standout closings was a $26.9-million loan on an industrial property in Lancaster, OH, a $20-million loan on a multifamily asset in Decatur, GA, and a $15.9-million transaction on a mixed-use property in The Bronx, NY.

"Leveraging technology and training, Eastern Union's brokerage team has brought its closing performance back to pre-pandemic levels," said Ira Zlotowitz, president and co-founder of Eastern Union. "August may be known for its hot weather and its languid pace, but our brokers stayed as sharp and aggressive as ever, as reflected in the month's impressive results.

"Our team has nurtured strong business relationships with lenders of all types, from banks, agency lenders, and institutions -- to Wall Street, balance sheet lenders, and insurance firms," he said. "These powerful August results show our clients' confidence in Eastern Union's ability to deliver the most desirable pricing and the most desirable terms in the market. We're looking forward to even better results in the months to come."

About Eastern Union

Founded in 2001, Eastern Union is a leading, national commercial mortgage brokerage firm. It employs more than 125 real estate professionals and closes an average of $5 billion in transactions annually. Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms.

Eastern Union, headquartered in New York, closes transactions of all sizes across the United States. It secures financing for all asset types. Transactions -- which can include multi-state and multi-site portfolios -- encompass both conventional and structured financing. In 2020, Eastern Union's Multi-Family Group reset market pricing by offering a quarter-point fee for refinancing properties backed by Fannie Mae or Freddie Mac. Capital introductions are handled through Eastern Union's affiliate, Eastern Equity Advisors.

For more information, visit www.easternunion.com.

Media contact:

Steve Vitoff
Eastern Union
516 652 0785
[email protected]

SOURCE Eastern Union