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Eastern Union Funding Inks $18M Acquisition Loan for Apartment Complex Trade in Houston

Thursday, November 12, 2015

Non-recourse loan facilitates the purchase of 495 residential units


HOUSTON, TX– November 12, 2015: Eastern Union Funding, a top-10 commercial real estate debt brokerage, arranged $18M for the purchase of an apartment complex located at 8300 Sands Point Drive in Houston.

Eastern Union President Ira Zlotowitz, Michael Muller and Mike Orlik originated and arranged a 10-year non-recourse 80 percent LTV loan with a rate of 4.56 percent. The loan was brokered via Arbor Commercial Mortgage.

The borrower, is an international real estate investment company. “Eastern Union Funding worked diligently, leaving no stone unturned and facilitating a long term, competitive loan product,” said a principal with the group.

This is the third loan Eastern Union has executed for this client this year. Each has been in a different state. “Playing a role in their exceptional growth, and observing such a strategic national footprint as it deepens is a true pleasure,” Orlik said. “They’re one of the more aggressive and expansive groups out there and the result is a highly diverse portfolio.”

About Eastern Union Funding: Founded in 2001, Eastern Union Funding is a top 10 commercial mortgage brokerage, according to Mortgage Bankers Association’s annual survey, and one of the top 50 fastest growing companies in NYC, as reported by Crain's New York Business the past two years straight. A trusted advisor to its clients and innovation leader in the commercial mortgage marketplace, Eastern Union caps its fees at $135k and closes an average of $3 billion in annual transaction volume nationwide. The firm’s sophisticated debt solutions are complemented by a one-of-a-kind Equity Division. Eastern Union is headquartered in New York, with offices in New Jersey, Maryland and Israel. For more on the country’s most trusted commercial mortgage brokerage visit www.easternuc.com.

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