Eastern Union Senior Loan Consultant David Merkin, based in the firm’s Bethesda “sharpened the pencil on this deal,” as he puts it. Merkin closed a partial recourse 10-year deal with a highly competitive interest rate of 3.6 percent, working with a regional balance sheet lender
Despite rolling leases within the loan term, Merkin said “rates were strong because we were working with the most competitive local bank in the region. My client has national tenants like IHop, Outback Steak House, Navy Federal Credit Union and Hibachi Grill, so the pieces were in place to arrange exactly what he needed.”
Located at 308 and 320 Worth Avenue in Garrisonville, the 32,000 SF retail plaza is located in Stafford County, just south of the Marine Base in Quantico.
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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