SILVER SPRING, MD – April 16, 2015: Eastern Union Funding, the country’s most trusted debt brokerage, leveraged an aggressive refi for a property located on 8120 Georgia Avenue - on behalf of an LLC operating under the same name.
Eastern Union’s David Merkin, based in the firm’s Bethesda branch, negotiated an $8.75 million loan which locked in at 4.1 percent interest, at the time of closing, with a 10-year term. Burke and Herbert bank supplied the loan.
“Working with David and Eastern Union Funding was a pleasure and it was seamless,” a spokesperson for 8120 Georgia Avenue LLC said. “They structured an outstanding deal with a great lender, locked in a competitive rate and we’re very grateful for the work they’ve done.”
8120 Georgia Avenue LLC’s property is located in the heart of downtown Silver Spring, an area whose retail corridor has become a hotbed in recent years, triggering the appetites of real estate investors nationwide. The 80,800 square-foot complex houses 10 commercial units including national tenants such as 7-Eleven and Mattress Warehouse.
“This was the sort of deal that required a relationship-based lender. We needed a bank who could truly understand every detail of every nuance involved in the transaction, and we found it,” Merkin said.
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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