Eastern Union Funding announced the company has surpassed the $3 billion mark for year-to-date transaction volume for the third year in a row.
Ira Zlotowitz, president of Eastern Union, was personally involved in close to $500 million of financing transactions so far in 2017.
“At Eastern we make every effort to be our clients’ trusted advisors,” Zlotowitz said. “Our goal is to provide a complete array of funding solutions and we’re grateful that our efforts have resulted in our best year so far. We attribute much of our renewed success to our investments in business development and technology this year.”
According to Zlotowitz, Eastern’s new Broker Affiliate Division, has contributed to the increased deal flow. The division provides free underwriting and mortgage quotes to independent investment sales brokerage firms. It recently signed over 500 commercial investment sales brokers to the program.
“With the Broker Affiliate Division, we are serving the investment sales community with conflict-free underwriting and up-to-date financing market knowledge,” Zlotowitz added. “At the same time, while there is no requirement to refer financing business to Eastern, we benefit from both goodwill and exposure to a broader cross-section of deals.”
The Affiliate Broker Division provides services and data across specialized subdivisions of Eastern’s Quotes and Term Sheets (QTS) group; an in-house banking division with subdivisions headed by specialists in different areas of finance and levels of the capital stack.
Among other new developments, the firm recently hired Yoel Garber to head the Structured and Bridge Department of QTS.
Among the deals contributing to Eastern’s record year to date were:
• $73,542,000 acquisition financing for multifamily property in Adelphi, MD, originated by Jeff Seidenfeld.
• $54,800,000 refinancing of multifamily property in Brick, NJ, originated by David Singer.
• $48,285,000 refinancing of mixed-use property in Memphis, TN, originated by Michael Muller.
• $40,500,000 refinancing of retail property in Brooklyn, NY, originated by Ira Zlotowitz.
• $35,485,000 acquisition of healthcare property in Celina, TX, originated by CJ Danziger and Phil Krispin.