Brokerage Secured Commercial Mortgages in 33 States Last Year
NEW YORK, Jan. 2, 2025 -- In a market beset with stubbornly high interest rates, Eastern Union -- one of America's largest commercial real estate brokerages -- placed and closed loans with 121 lenders in 2024.
The company's portfolio of loans last year included financing from 31 new lenders.
Eastern Union also had a successful year in respect to geographic reach, as well as in its versatility in closing a wide variety of commercial loan types. The brokerage closed transactions in support of properties in 33 states across the United States. The company's full palette of closed transactions represented 20 different property types.
"The Eastern Union brokerage team devotes a great deal of energy to nurturing business relationships with the full spectrum of commercial lenders," said Abe Bergman, Eastern Union's president and co-founder. "Our brokers take pride in carefully matching up the right lender to the right mortgage opportunity."
"Borrowers see Eastern Union as their trusted advisor because of our consistent ability to pinpoint the best sources of financing for their deals," said Moshe Maybloom, managing director at Eastern Union. "Our company has been delivering commercial mortgages for all property types for more than two decades."
In 2024, the company added a sixth office in 2024 in Denver, CO, joining existing offices in Brooklyn, NY, Woodmere, NY, Chestnut Ridge, NY, Howell NJ and Bethesda, MD.
Among the year's standout transactions, Eastern Union secured $72 million in construction financing toward development of a 117-unit luxury condo in Long Island City in Queens, NY. The transaction was arranged by Chaim Greenfeld, a company vice president.
Eastern Union also closed on a $51.5-million refinancing package for a self-storage complex in Virginia Beach, VA. The transaction was led by David Merkin, a senior managing director with the firm's Mid-Atlantic Group.
Moreover, the company secured a $46.2-million refinancing package for a multifamily property in Columbus, OH. The deal was overseen by Eastern Union senior managing director Michael Muller.
Eastern Union also arranged the $24-million refinancing of a construction loan in support of a 57-unit, mixed-use building in Brooklyn's Flatbush community. The mortgage was secured by Eastern Union senior managing director Motti Blau and senior loan consultant Mendy Pfeifer.
Also, this year, the company secured $20.4 million in refinancing toward conversion of a six-story, 137-unit hotel in Plano, TX into an assisted living community. The transaction was originated and managed by Meir Abrahamson, a senior loan consultant with Eastern Union.
About Eastern Union
Founded in 2001, Eastern Union is a national commercial real estate firm that provides both financing services and capital markets advisory services. It employs more than 90 real estate professionals and closes billions of dollars' worth of transactions annually. Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms.
Headquartered in New York, Eastern Union secures financing for transactions of all sizes across the United States. Transactions, which can include multi-state and multi-site portfolios, encompass conventional commercial mortgages, structured debt, healthcare, hospitality, mobile home parks, single-family rentals, investment sales, and -- handled in conjunction with company affiliate Eastern Equity Advisors -- equity placement.
For more information, visit www.easternunion.com.
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