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Eastern Union Funding's Rapidly Rising Broker Joseph Munk Inks $10.5M CMBS Loan, In Less Than 30 Days, For Multifamily Refi in Indiana

Thursday, September 17, 2015

Brooklyn-based commercial mortgage brokerage showcases national presence with refinance in Chicago submarket


INDIANA – September 17, 2015: Eastern Union Funding, a top-10 commercial real estate debt brokerage, delivered despite a tight timeframe at a closing table in Merrillville, Indiana. Joseph Munk, one of the firm’s rising stars, brought to completion the refinance of large multifamily called Tiberon Trails on behalf of Chicago-based Icon Management.

The young broker negotiated a 10-year $10,500,000 loan with a competitive long-term rate of just 4.78 percent. The deal was brokered with agency lender Ladder Capital, with whom the company has placed several deals this year. Eastern Union continues to evolve simultaneously as a commercial mortgage brokerage firm executing nationwide, and as front runner in the tri-state area region, centered on the five boroughs, where Eastern Union – the country’s 8th largest firm of its kind – executes roughly 80 percent of its loans.

“It’s a testament to this young man’s hard work, dedication and talent that he should begin to rise as producer,” said Eastern Union Funding President Ira Zlotowitz. “This firm has done some truly tremendous things working together, however it’s still like no other feeling to methodically teach young professionals the business and watch them as they cultivate their own unique strategy toward success.”

Tiberon Trails is located on 1240 West 52nd Drive, Merrillville, IN. The town, a subsection of Chicago’s greater metropolitan area, is positioned alongside Route 30 and therefore just minutes from robust retail corridors, schools, and restaurants. Merrillville recently became the most populated town in the state of Indiana.  Tiberon Trails maintains 374 units.

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 by Crain's New York Business. A trusted advisor to its clients and innovation leader in the commercial mortgage marketplace, Eastern Union has closed an average of $3 billion in annual transaction volume nationwide. The firm’s sophisticated and reliable 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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