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Eastern Union Funding Arranges $5 Million to Refinance an Apartment Complex in Philadelphia, PA

Wednesday, December 31, 2014

Refinancing Season Continues to Punctuate Remaining Hours of 2014

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PHILADELPHIA – December 31, 2014: The widely acknowledged dash to tap into investor-friendly interest rates continues to make waves, in this case for Eastern Union Funding, one of the largest and fastest growing commercial real estate mortgage brokerages in the national sector.

In one of the last few deals remaining in the 2014 pipeline, Eastern Union’s David Metzger and Nate Hyman negotiated $5,137,500 to refinance a Philadelphia apartment complex. The five year loan carries a competitive interest rate of 3.375 and was provided by a regional balance sheet lender.

The property consists of 82 garden-style apartments, two bedroom units in two-story brick buildings in the Overbrook Park section of Philadelphia. 

“The property is a well-maintained beauty which consistently generates massive upside, while meeting the housing-demands of the local market,” Metzger said. “By moving when we did to refinance, we locked in a secure loan solution which promises to improve the building’s performance at an even greater level.”


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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