Senior Managing Director Eli Breiner, based out of the firm’s Howell, NJ, location, originated and arranged an 11-year deal at 4.25 percent. The deal was funded via a regional balance sheet lender to whom Breiner introduced the Philadelphia market several years ago, brokering the bank’s first of what would be many deals in that area.
Located on Wallace Street, the single tenant property consists of 63,000 square feet of industrial space.
“Single tenants are challenging but thanks to the swift execution by all teams involved with the transaction, this deal closed smoothly,” Breiner said. “It’s also a testament to our strong relationship with the lender,” he added.
Founded in 2001, Eastern Union Funding is the country’s most trusted debt brokerage and one of the fastest-growing mortgage companies. One of the top 10 non-direct-lender financial intermediaries on Mortgage Bankers Association’s annual survey, the company’s reliable debt solutions have also prompted accolades from Crain’s New York, Inc. Magazine, Real Estate Forum 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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