Eastern Union Closes More Than $1 Billion in Transactions in First Quarter of 2019
Pace of Deal Flow Running Higher Than That of Last Year, When Company Closed a Record-Setting $5 Billion in Volume
BROOKLYN, N.Y., April 2, 2019 /PRNewswire/ -- Eastern Union, one of the country's leading commercial mortgage brokerage firms, completed the first quarter of 2019 having closed a deal portfolio exceeding $1 billion in value.
Despite indications of an economic slowdown, the velocity of Eastern Union's deal pipeline has thus far outpaced that of last year. In CY 2018, the company turned over a record-setting $5 billion in transaction volume.
The firm's vibrant deal flow stands in contrast to a market widely agreed to be in the midst of a slowdown.
Eastern Union brokers are also closing a larger proportion of structured and bridge financings than last year. Its executives say the company has attracted a growing reputation for expertise in this relatively complex type of transaction.
"While the rest of the market is slowing down, our deal momentum is keeping pace with that of our best-ever deal flow of 2018," said Eastern Union founder and president Ira Zlotowitz.
"At the same time," he said, "the nature of our transactions has become more intricate and sophisticated. Recognizing the proficiency of our team, borrowers are increasingly tapping Eastern Union to deliver structured financing and bridge loans."
Co-founded by Mr. Zlotowitz and managing partner Abe Bergman in 2001, Eastern Union today operates in conjunction with three primary entities, in addition to its conventional debt unit:
The first entity, the firm's Structured Finance and Bridge Division, helps commercial real estate owners secure funding for construction, bridge, mezzanine, preferred equity and hard money loans.
The second entity is the Healthcare Group, which services owners and operators of skilled nursing and assisted living facilities, hospitals and other health-related properties nationwide.
The third unit is Eastern Equity Advisors, an equity brokerage firm that is an affiliate of Eastern Union. It leverages long-standing relationships with a range of capital providers to help real estate professionals raise equity from institutional and entrepreneurial sources.
The company complements its work by leveraging its exclusive relationship with QTS Services, America's largest independent quotes and term sheet servicer based upon loan volume. QTS Services takes responsibility for the substantial groundwork associated with each transaction, encompassing shopping, producing quotes and term sheets, and packaging the deal.
About Eastern Union
Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage company that closed $5 billion in real estate transactions in 2018. The firm -- whose equity transactions are handled through its affiliated equity brokerage company named Eastern Equity Advisors -- employs more than 70 highly skilled brokers and real estate professionals.
Consistently putting their clients' needs first, Eastern Union team members leverage their extensive knowledge of the market to bring clients the best rates available. Eastern Union's experience enables the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. The company consistently closes an average of $400 million dollars' worth of new loans every month.
Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey and Maryland. For more information, please visit http://www.easternunion.com/.
Media contact:
Steve Vitoff
Eastern Union
718-567-4880
[email protected]
SOURCE Eastern Union
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