Eastern Union Successfully Secures $18.5 Million for Warehouse Refinancing in NJ

Eastern Union, one of America's premier commercial real estate mortgage brokerages, has successfully arranged an $18.5 million loan specifically aimed at refinancing the mortgage on a substantial 118,352-square-foot warehouse located in Northern New Jersey. This transaction showcases Eastern Union's expertise in facilitating significant loans within the real estate sector, particularly during a time when many businesses are focusing on reassessing their financial strategies amidst economic shifts.

The refinancing deal, managed by Eastern Union's president Abe Bergman, vice president Yossi Orzel, and senior loan originator Becky Friedler, stands as a testament to the firm's robust capabilities. While the specifics regarding the identity of the borrower and the exact location of the warehouse remain undisclosed, the significance of the deal is clear. The loan is structured with a five-year term, bearing a competitive interest rate of 5.7 percent, provided by Fulton Bank. Notably, the transaction featured an 80-percent loan-to-value ratio, signifying careful financial structuring and risk management by all parties involved.

Yossi Orzel emphasized the importance of building strong relationships between borrowers and lenders. He stated, "Eastern Union succeeded in nurturing a healthy relationship between the borrower and the lender. As a result, we succeeded in delivering a non-recourse loan, which is a rare occurrence for this particular category of properties." Non-recourse loans limit the lender's ability to claim the borrower's other assets if they default, thus highlighting the trust established in this transaction.

Since its inception 25 years ago, Eastern Union has excelled in securing over $5.76 billion in commercial real estate financing across New Jersey alone, executing more than 1,900 successful transactions that encompass various asset categories. This remarkable achievement positions the firm as a dominant player in the commercial mortgage brokerage scene.

Furthermore, Eastern Union has carved a niche as a national leader in financing industrial real estate, having completed deals amounting to $1.48 billion specifically in this sector. With a strong track record of 398 closings under its belt in industrial financing, Eastern Union continues to evolve and expand its influence in the marketplace.

Founded in 2001, Eastern Union operates with a dedicated team of over 90 real estate professionals. The company annually closes billions of dollars' worth of transactions by leveraging its expansive relationships with lenders and its deep knowledge of market dynamics. This strategic positioning allows Eastern Union to secure the most favorable rates and terms available to its clients.

The firm is adept at handling transactions of all sizes throughout the United States, including complex multi-state and multi-site portfolios. Their extensive financing capabilities cover a wide spectrum – from conventional commercial mortgages to structured debt arrangements involving multifamily, office, retail, healthcare, hospitality, manufactured homes, single-family rentals, self-storage, and more. Additionally, in partnership with Eastern Equity Advisors, the firm also handles equity placement, thereby providing clients with comprehensive financial solutions.

As Eastern Union continues to innovate and adapt within the ever-changing landscape of commercial real estate financing, it remains committed to fostering lasting relationships and delivering exceptional service to its diverse clientele. For more information about the range of services offered and ongoing projects, visit www.easternunion.com.