Commercial mortgage brokerage closed loans by Eastern Union with 180 lending institutions, the most in the firm's 21-year history.
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Abe Bergman, CEO of Eastern Union. Image: Eastern Union. |
NEW YORK: In 2022, Eastern Union placed and closed loans with more lenders than in any year in the company's 21-year history as it is one of the America's largest commercial real estate brokerages.
During its first full year of leadership under president and CEO Abe Bergman, the firm placed and closed loans with 180 individual lending institutions in 2022, representing its largest lender roster ever. The ranks of Eastern Union lenders last year grew by 31 percent over 2021.
"This new record is a testament to Eastern Union's never-ending drive to find the right lender for any asset category," said Mr. Bergman. "Eastern Union brokers are skilled at adapting their approach to make sure our clients achieve their business goals."
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In addition, the average size of new loans put under application in 2022 increased by 24 percent over 2021.
And the size of the average loan put into process in 2022 increased by four percent over the 2021 average.
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Eastern Union's bridge loan in support of the acquisition of the 440-unit Halsten at Vinings Mountain in Atlanta. Image: Eastern Union. |
"We attribute Eastern Union's superior performance in 2022 to our commitment to client service," said Moshe Maybloom, managing director at Eastern Union. "Leveraging our deep understanding of the lending marketplace, our nationwide brokerage team works relentlessly to secure the best rates and terms for our clients."
Among the year's standout transactions, senior managing director Michael Muller arranged an $83.33-million bridge loan in support of the acquisition of The Halsten at Vinings Mountain, a 440-unit multifamily property in Atlanta.
In addition, senior managing director Marc Tropp helped America's Realty secure $73 million in financing to acquire one million square feet of retail space over a six-month period.
Ben Schwartz, a senior loan originator, closed a succession of 23 commercial mortgages valued at more than $100 million overall in a total of five states within a five-week period.
And with two years on the job, 21-year-old Joseph Sasson -- a commercial real estate loan originator -- arranged for the $38.37-million refinancing of the Roseberry Apartments, a 285-unit multifamily property in Columbia, SC.
The company also witnessed steady deal flow in 2022 from its Healthcare Group under the leadership of Nachum Soroka and Jacob Schonland. Eastern Union also launched a new Hospitality Division led by Charles Hoffman and established an Investment Sales office in New York City under Ben Weiss, who came to the company after an 18-year tenure with The Besen Group, a New York City-based investment sales firm.
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.
Source: Eastern Union