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Eastern Union Funding Arranges $12,888,500 Loan For Springfield, Illinois Property

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Eastern Union Funding Arranges $12,888,500 Loan For Springfield, Illinois Property    

Eastern Union Funding, LLC, one of the country’s largest national commercial mortgage brokerage companies, negotiated a $12,88,500 acquisition loan for a 17-story multifamily tower in Springfield, Illinois.

The seven-year loan, featuring a fixed rate of 2.782 percent was provided by a CMBS Lender. The transaction was negotiated by Eastern Union President Ira Zlotowitz and Shaya Ackerman, senior managing director and head of structured finance, both based in the firm’s New Jersey branch.

The unique high-rise is situated in downtown Springfield, near the state capital. The new ownership will transform the asset through unit upgrades, catering to a diverse tenant base who prosper from the property's location in the city's epicenter.

“The property is consistently well-occupied and there's major upside potential. Our client is seizing a value-add opportunity in a neighborhood with thousands of nearby employers,”  Zlotowitz said. 

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/.

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NY Headquarters
3839 Flatlands Ave #211
Brooklyn,  NY  11234 
t. 718-567-8400 
f. 718-338-8488 
info@easternuc.com
NJ Headquarters
481 Oak Glen Road
Howell,  NJ  07731
t. 732-301-3900
f. 732-942-5558
info@easternuc.com
Maryland Headquarters
7910 Woodmont Ave, Suite 870
Bethesda,  MD  20814
t. 202-617-3133
info@easternuc.com
Upstate NY
3 College Road, Suite 203
Monsey,  NY  10952
t. 845-322-7000
info@easternuc.com
NYC Headquarters
1460 Broadway
New York, NY 10036
t. 718-567-4914
info@easternuc.com
Baltimore, MD
5906 Park Heights Ave.
Baltimore, MD 21215
Williamsburg, NY
481 Wythe Ave.
Brooklyn, NY 11249
Long Island, NY
181 South Franklin Ave.
Valley Stream, NY 11581
t. (516) 430-5501
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