June’s 71 Commercial Mortgage Closings By Eastern Union Represent Highest Monthly Total Of 2021
Brokerage Team’s Monthly Figure Of 312 New Loan Submissions Is Also The Year’s Highest
NEW YORK – JULY 6, 2021 – Eastern Union, one of the country’s largest commercial real estate finance firms, set a new standard for productivity in the month of June, a reflection of broker enthusiasm and the company’s technological assets — and also an indicator of the post-COVID-19 marketplace recovery.
The firm’s brokers closed 71 commercial mortgages last month, the highest monthly total in calendar year 2021. In addition, Eastern Union’s 312 new loan submissions from prospective borrowers also represented the highest monthly number for the year.
Four of the largest June closings were secured through Eastern Union’s Multi-Family Group, a special brokerage team formed just last year. Through its high-volume deal flow, the Multi-Family Group has closed hundreds of millions dollars’ worth of transactions since its launch.
“June’s record-high number of closings and new loan submissions reflects the commitment and the client-centered mindset of our brokers,” said Ira Zlotowitz, president and co-founder of Eastern Union. “These results also reflect our company’s ability to capitalize on business opportunities in a post-pandemic environment.
“In less than a year’s time, The Multi-Family Group has emerged as one of Eastern Union’s most creative and energetic components,” said Mr. Zlotowitz. “The group’s first-class performance in June is consistent with the strong pipeline of high-value transactions the Multi-Family Group has been delivering throughout 2021 and before.”
In addition, Mr. Zlotowitz cited the impact of “AskQTS,” a newly introduced, proprietary technology, in helping to accelerate the pace of mortgage closings. AskQTS leverages artificial intelligence and machine learning to pinpoint specific banks that may be interested in virtually any particular commercial real estate deal anywhere in the United States. The technology also identifies the projected rates and terms these banks would offer.
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.
Eastern Union’s free eCALC app instantly helps investors value and underwrite deals.
For more information, visit easternunion.com.