City Biz: Eastern Union Funding Readies for Strong 2016
Thursday, March 3, 2016
Coming off a robust 2015 with 77 loan closings, the Bethesda, Maryland, office of Eastern Union Funding led by Senior Managing Director Marc Tropp expects 2016 to maintain the strong momentum that started the year.
Already, with 40 loans in progress this year, Mr. Tropp is positioning to capture additional market share by elevating his seasoned team with two key personnel changes: David Merkin, a four-year veteran with the company, joins the five-person team as a senior loan consultant; and Shai Romirowsky has been promoted to Director and will manage the day-to-day operations of the Bethesda group.
“Shai and David have been a valued part of the operation for several years and have consistently exceeded expectations,” said Mr. Tropp, who has run the Mid-Atlantic market for New York metropolitan area-based Eastern Union for over 10 years. “Last year, the strong economic growth in the greater Washington, D.C. region produced the most jobs in 10 years. As a result, we are strengthening our ranks.
“Regional economic data points to good news for the commercial real estate markets, and we do not see any slowdown in transaction volume at this point,” Mr. Tropp continued. “We continue to bring attractive financing options to local lenders, and to those based outside the region, many of whom are excited about the strong fundamentals of the Washington area. There is still strong absorption in the market for multifamily buildings, especially, as more people move to the area for job opportunities.”
Ira Zlotowitz, president of Eastern Union, said, “With over a decade leading our business in this region, Marc is a fixture in the company and the market and has positioned the office for continued success.”
About Eastern Union Funding Founded in 2001, Eastern Union Funding is a top 10 commercial mortgage brokerage, according to Mortgage Bankers Association’s annual survey, and one of the top 50 fastest growing companies in NYC, as reported byCrain's New York Business the past two years straight. A trusted advisor to its clients and innovation leader in the commercial mortgage marketplace, Eastern Union closes an average of $3 billion in annual transaction volume nationwide. The firm’s sophisticated debt solutions are complemented by a one-of-a-kind Equity Division. Eastern Union is headquartered in New York, with offices in New Jersey, Maryland and Israel. For more on the country’s most trusted commercial mortgage brokerage, visit www.easternuc.com.
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