One of the United State's most prominent commercial real estate mortgage brokers, Eastern Union, closed on 80 transactions in August, the highest monthly closing volume it registered in the past 17 months, according to a press release.
About the Company: Eastern Union, founded in 2001, is a leading national commercial real estate finance firm. The company closes more than $5 billion in transactions per year on average, using its large network of lenders and market expertise to obtain the best available prices and terms for borrowers.
August Transaction Volume: The August closings factored over 10 different property types in 16 states and were acquired through 45 lenders. Eastern Union also produced an active pace of loan applications during the month representing 12 property types across 21 states.
"Leveraging technology and training, Eastern Union's brokerage team has brought its closing performance back to pre-pandemic levels," said Ira Zlotowitz, president and co-founder of Eastern Union. "August may be known for its hot weather and its languid pace, but our brokers stayed as sharp and aggressive as ever, as reflected in the month's impressive results.
A $26.9 million loan on an industrial estate in Lancaster, Ohio, a $20 million loan on a multifamily property in Decatur, Georgia, and a $15.9 million transaction on a mixed-use asset in The Bronx were among August's exceptional closings.
The company’s August deal volume is a strong indication of enhanced lending and acquisition activity in the commercial real estate industry and a positive sign for investors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
