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Eastern Union Funding Arranges $21.5 Million Acquisition Loan for Shopping Mall near Washington, D.C.

Monday, July 21, 2014

Eastern Union Funding, LLC, one of the country’s largest national commercial mortgage brokerage companies, negotiated $21.5 million for the purchase of a 600,000 square-foot shopping center.


Marc Tropp of Eastern Union’s Maryland office arranged the 4.4 percent seven-year acquisition loan with a regional balance sheet lender. Eastern Union also introduced another repeat client to the deal, facilitating a partnership which contributed the $9 million equity component on top of the loan amount.

Tropp said the plan is to redevelop the property, which is garnering interest from national tenants, creating massive upside potential.

“Carl buys an average of 18-22 shopping centers annually at this point, he has a great relationship with many national retailers, and his leasing experience was critical to the success of this deal,” Tropp said.  “The property sits between three metro stops, and it is only a matter of time before the market pushes closer to the site.”

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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