TULSA, OK – December 2, 2014: Eastern Union Funding, one of the largest national commercial mortgage brokerages, has arranged a $3.3M acquisition loan for the financing for of The Landing, an apartment complex located at 9743 E 12th Street in Tulsa, Oklahoma.
The apartment complex encompasses 16 two-story buildings, totaling 126-units. Originally built in 1973, the buildings are comprised of a mix of one and two bedroom, garden-style units, ranging in size from 700 square feet to 1,000 square feet.
Financing for the purchase was arranged by Eastern Union Funding’s Motti Blau through Arbor Commercial Mortgages. This transaction is a non-recourse, 10 year loan locked in at 4.52 percent interest.
“The Tulsa market is becoming stronger, and these units are marked at a below market price, making them attractive options for potential tenants” said Blau. “The site, when positioned correctly, offers a great ROI and our client saw that.”
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/.