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Eastern Union Funding Arranges $6.3 Million for Multifamily Acquisition in Dallas, TX

Tuesday, February 24, 2015

Brooklyn Developer Taps into Booming Texas Market

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DALLAS, TX – February 24, 2015: Texas real estate is a developing story, which is why the number of Texas deals for Brooklyn-based debt brokerage Eastern Union Funding is increasing. This climb was most recently punctuated by a Brooklyn-based investor’s purchase of a townhome community in Dallas and the subsequent financing by Eastern Union.

Eastern Union’s Nate Hyman and David Metzger, a team whose presence in Texas has likewise intensified in recent fiscal cycles, negotiated an aggressive five-year $6.3 million non-recourse debt-assumption with competitive lower-three percent-range interest. The loan was provided by a national balance sheet lender

The property consists of 268 units spanning multiple two-story townhomes.

“The local market is on fire, so when we looked at this property’s numbers and its performance, we were able to work with the bank to get the best terms available.” Hyman said.

 

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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