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Eastern Union Funding Arrages $4.79 Million at 3.5% for the Refinance Apartment Complex in Philadelphia, PA

Thursday, December 11, 2014

Apartment Complex Near Center City Gets Refi


PHILADELPHIA – December 11, 2014: Eastern Union Funding, one of the largest national commercial mortgage brokerages, has arranged a $4.97M refi for Green Tree Gardens, an apartment complex located at 330 West Johnson Street, a short commute from Center City in Philadelphia, PA.

The apartment complex is located in the Wissahickon / East Mount Airy Community of Philadelphia, PA. The units offered are one and two bedrooms with spacious floor plans, modern kitchens, laundry facilities and 24-hour emergency maintenance management office on-site.

Financing for the purchase was arranged by Eastern Union Funding’s Meir Kessner through Investors Bank, which is consistently ranked among the top banks lending to the multifamily housing sector in the New York Metropolitan area.. This transaction is a seven year loan locked in at a 3.5 percent interest rate.

“Seven year deals closing in the mid-threes is a solution the market might not offer next year, so to refi now made a lot of sense,” Kessner said. “The units themselves, given their proximity to downtown Philadelphia, are also an increasingly high-performing asset, which propelled this deal further.“

About Eastern Union Funding: Founded in 2001, Eastern Union Funding is a leading national commercial mortgage brokerage firm, employing over 100 real estate professionals who, using their extensive knowledge of the market, share lender and market data and utilize state-of-the-art proprietary technology to capitalize on deep relationships with more than 85 local and national lenders. Eastern Union’s real estate professionals bring clients the very best rates and terms the market has to offer, acting as trusted advisors who operate on the simple premise that client needs come first. Eastern Union’s arsenal of lending sources enables the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. The company consistently places an average of a quarter of a billion in new loans every month. Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey and Maryland. For more information, please visit: http://www.easternuc.com/

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