Eastern Union Funding and Epic Commercial Realty announced a new collaboration that will see one of Eastern’s leading mortgage brokers locate within Epic’s offices.
The plan is to enhance Epicʼs ability to source financing for investment sales deals and obtain immediate access to real time financing market information through their Quotes and Term Sheets (QTS) department.
“Deals are often only as good as the financing they receive.” said Ira Zlotowitz, president of Eastern Union Funding. “It’s a win-win for both parties. The Epic team gets great access to financing options for their investors and in return our lending clients gain access to the deals Epic is working on.”
Under the arrangement put together by Eastern’s Director of Business Development, Aryeh Miller, Epic’s Manhattan offices will host a broker provided by Eastern Union as the point person to provide rapid commercial mortgage quotes that are needed for Epic’s clients, who are acquiring properties.
Epic will also have immediate access to Eastern’s in-house banking and equity departments to receive updated market information, and exclusive sign-in access through the Eastern Union App to proprietary information regarding recent loan terms, quotes, and comps.
Epic will gain the ability to have properties listed on the Eastern Union App, with broker names linked to property listings that are made available to Eastern’s extensive client list.
Later in the relationship it is expected that Epic brokers will be able to target and “push” their listings to specific owners within Eastern’s database.
“We believe that this collaboration will be extremely beneficial to both Epic and Eastern,” said Sasi Elya, CEO of Epic.
“We chose to work with Eastern Union because of their reputation as a trusted advisor focusing strictly on debt and equity financing. Working together will keep both companies ahead of the curve by leveraging technology and data.
“Unlike other firms with financing alliances, this deal includes no tie-ins and clients have no obligation to use these services. Each of us will be providing the other with beneficial market information and quality leads that can help make transactions happen. It’s an exciting arrangement for everyone involved.”
Earlier this summer, Elya and partner Ido Tzaidi purchased Epic from founder Yona Edelkopf and announced a plan to boosts it broker ranks and turns it focus from the outer boroughs to Manhattan.