BETHESDA – December 1, 2014: Eastern Union Funding, one of the fastest growing national commercial real estate brokerages, secured a $4.2 million acquisition loan for Wythe Plaza, a retail and shopping complex located in Wytheville, VA.
The 99,745-square-foot shopping center, sitting on 8.69 acres, holds nationally-recognized tenants such as Dollar General, Long John Silver’s and Nationwide Insurance. The purchasing entity recognized the value of the building, which underwent a renovation in 2007.
The loan, provided by Mid-Atlantic Financial Partners, was arranged by Eastern Union Funding’s Mid-Atlantic team, consisting of Marc Tropp and Shai Romirowsky. It features an interest rate of 4.875 on a three-year term.
“We are seeing continued growth in Virginia, and this particular shopping center features many big name attractions and is at the crossroads of two major intersections,” said Tropp. “Our client understands this market and made an investment in the growth potential.”
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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