HOLLYWOOD, FL – March 26, 2015: A boutique Florida hotel company pounced on an aggressive financing solution for its 62-key operation, located at 1915 North Ocean Drive, Hollywood. The company cashed-out over $2 million in a deal provided by Eastern Union Funding, the country’s fastest growing commercial real estate mortgage brokerage based in Brooklyn.
Eastern Union’s Mark Perlowitz, based in the firm’s Howell, NJ location, originated and arranged the five year, $4.75 million loan with no prepayment penalty. Financing was negotiated through a national balance sheet lender.
Hollywood Beach Hotels consist of five adjacent hotels situated along North Ocean Drive. Steps from the ocean and boardwalk, the Hotel’s visitors enjoy front-door access to the beach, surrounding amenities and stunning views of the Atlantic Ocean.
“Hollywood Beach Hotels is a high-performing hotel product located in an increasingly strong market. Thanks to an equally strong borrower, phenomenal location and Eastern’s national lending-relationships, we are excited to announce this highly competitive deal,” Perlowitz said.
About Eastern Union Funding: Founded in 2001, Eastern Union Funding is, according to Crain’s NY and Inc. 5000, the fastest-growing debt brokerage serving the national commercial real estate sector and one of the top 10 non-direct-lender financial intermediaries on Mortgage Bankers Association’s annual survey. Eastern Union’s sophisticated infrastructure is premised on our continued presence as the most trusted advisers in the industry, closing loans with over 85 lending sources regularly. With trust at the core of our corporate model, Eastern Union has arrived as a top-tier mortgage company. Our company’s trusted adviser anthem has prompted accolades for outstanding performance and a host of individual awards for Eastern Union’s real estate professionals. Our loan products include multi-state, multi-site portfolios, as well as deals financing smaller, single-property transactions. Eastern Union currently places an average of $3 billion every 12 months, and that number continues to increase. Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey, Maryland and Israel.. For more information, please visit: http://www.easternuc.com/.
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