Eastern Union’s Michael Muller led the team, which arranged the non-recourse five-year loan with a competitive interest rate of 3.375 percent. The loan was brokered with Signature Bank.
The loan services six north Jersey apartment buildings located in Union City, West New York, and Jersey City.
“We advised our client to refinance now, while rates are still low and as property values stand to rise in the area,” Muller said. “The outer borough markets are spilling into places like Union City, and we worked with a NY bank which recognizes that trend.”
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. Eastern Union’s sophisticated and reliable debt solutions are built on a foundation of trust, and complemented by a one-of-a-kind equity division. As per Crain's New York, Eastern Union is one of the top 50 fastest growing companies in NYC. Other accolades, also based on growth, came from Inc. 5000, real estate forum, Observer Media and more. Closing an average of $3 billion in annual transaction volume nationwide, Eastern Union is headquartered in New York, with offices in New Jersey, Maryland and Israel. For more on the country’s most trusted debt brokerage visit www.easternuc.com
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