Eastern Union’s Michael Muller negotiated the debt assumption from a Fannie Mae lender. With a 7.5 years left on the mortgage, Muller structured the transaction to avoid steep yield maintenance costs.
The property is a 119 unit apartment complex on West Sumner Avenue in Roselle Park.
“This loan is an example of our strong relationships with aggressive lenders, and our competitive team in-house which understands the mechanics of financing,” Muller 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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