Eastern Union Funding, LLC, one of the country’s largest national commercial mortgage brokerage companies, negotiated a $12,850,000 mortgage for an office/flex property located in West Long Branch, NJ.
The non-recourse five-year loan, featuring a competitive rate of 3.65 percent, was provided by a regional balance sheet lender. The transaction was negotiated by Eastern Union Funding Managing Director Jay Bidnick, who is based out of the company’s Monsey, NY branch.
The 25-unit, 330,000 square foot corporate center is largely comprised of office, in addition to research and development, and flex space.
“The borrower was focused on an aggressive interest rate in addition to non-recourse. Eastern’s relationship with the lender enabled us to structure a financing solution that exceeded our client’s expectations,” said Mr. Bidnick.
Founded in 2001, Eastern Union Funding is one of the country’s largest private commercial real estate mortgage brokerage companies serving the national commercial real estate sector. Eastern Union’s brokers, acting as trusted advisors, operate on the simple premise of putting the clients’ needs first. It has an arsenal of lending sources for financing complex, multi-state, multi-site portfolios as well as loans for smaller, single-property transactions which allow for consistent placement averaging 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/.