Brokerage Team Monthly Metric 312 Applications for new loans Also the highest in a year
NEW YORK – JULY 6, 2021 – Eastern Union, one of the nation’s largest commercial real estate finance companies, set a new performance standard in June, reflecting broker enthusiasm and the company’s technology assets, as well as indicative of the market’s recovery from COVID-19.
Firm Brokers Closed 71 commercial mortgages last month, the highest monthly total in calendar year 2021. In addition, Eastern Union’s 312 new loan applications from potential borrowers also represent the highest monthly rate in a year.
The four largest closings in June were secured through the multi-family group Eastern Union, a dedicated brokerage team formed just last year. Thanks to a large flow of deals, Multi-Family Group has closed deals worth hundreds of millions of dollars since its inception.
“The record number of closings and new loan applications in June reflects the commitment and customer-centric mindset of our brokers,” said Ira Zlotovits, President and Co-Founder of Eastern Union. “These results also reflect our company’s ability to seize business opportunities in a post-pandemic environment.
“In less than a year, The Multi-Family Group has grown into one of the most creative and energetic components of Eastern Union,” said Mr Zlotowitz. “The group’s first-class results in June are in line with the significant flow of large deals that Multi-Family Group has carried out during 2021 and earlier.”
In addition, Mr. Zlotowitz mentioned the impact of AskQTS, a new proprietary technology, in helping to accelerate the pace of mortgage closure. AskQTS uses artificial intelligence and machine learning to identify specific banks that might be interested in virtually any particular commercial real estate transaction anywhere in the United States. The technology also determines the predicted rates and terms that these banks can offer.
About the Eastern Union
Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage firm. It has over 125 real estate professionals and an average of $ 5 billion in transactions every year. Eastern Union uses its relationship with lenders and market knowledge to ensure the best rates and conditions available.
Eastern Union, headquartered in New York, closes transactions of any size in the United States. It provides financing for all types of assets. The deals, which can include multi-state and multi-site portfolios, cover both conventional and structured finance. In 2020, the Eastern Union Multi-Family Group changed market prices by offering a quarter-point fee for refinancing properties backed by Fannie Mae or Freddie Mac. Capital input is carried out through the Eastern Union branch, Eastern Equity Advisors.
Eastern Union’s free eCALC app instantly helps investors evaluate and sign deals.
For more information visit Easternunion.com…