Eastern Union Funding, one of the nation’s leading commercial real estate mortgage companies, announced today it has leased 4,000 square feet of office space in Orlando, FL to support the continued growth of its Affiliate Broker Division.
Eastern Union signed a 5-year deal at 6925 Lake Ellenor Drive, its first location in Florida, which will initially house 45 new employees, with room for 30% growth. The new office is located in Southwest Orlando Central Park, one of Orlando’s premier mixed-use campus style properties, owned and leased by Max King Realty, represented by Brett Kingstone. “Max King Realty is excited to have Eastern Union as a tenant in our Heaven III property. With $4 billion of mortgage transaction in 2017 and new revolutionary technology, Orlando is fortunate to have this job creating juggernaut in our community.” said Mr. Kingstone.
The new location, managed by Joseph Saul, will onboard new brokers and buyers for Eastern Union’s Affiliate Division. The origination team will help nationwide brokers market their listings and facilitate customized deal flow to investors; all in the cloud, via the Eastern Union app (IOS and Android).
The Affiliate Broker Division provides a unique platform for independent investment sales brokerage firms to market their listings with a large and diverse pool of active commercial real estate investors. Based on a unique set of buying criteria per investor, the Eastern Union app pairs each opportunity with the ideal buyer(s). Additional complimentary services provided by the Affiliate Broker Division include underwriting, research and real time financing options.
The Affiliate Broker Division was beta launched in October 2017 and has already fostered over 5,300 relationships with commercial sales brokers from over 2,300 companies across the country and is actively promoting 2,200 real estate opportunities.
Eastern Union invested more than $2 million to develop its new affiliate division and to provide new technology to its growing network of brokers. Carrying costs and future updates are part of the 2018 budget and timeline to nationally grow the Affiliate Broker Division. Ira Zlotowitz, president of Eastern Union, said “Our strategic investment in technology, data management and back office operations has created a synergy that propelled the success of our Affiliate Broker Division.” Mr. Zlotowitz continued, “Our first quarter goals for the Affiliate Broker Division are to engage over 15,000 sales associates nationwide and promote over 5,000 listings on the Eastern Union app.”
Eastern Union has offices in New York, New Jersey, Maryland and Florida. The tech savvy mortgage firm closed $4 billion of loans in 2017 and projects to be a part of more than $8 billion of commercial real estate loans in 2018.
ABOUT EASTERN UNION FUNDING:
Eastern Union Funding (Eastern Union) is among the most active commercial real estate mortgage brokerage firms in the U.S., closing an average of $3.5 billion in transaction volume annually. Serving as trusted advisors to real estate owners and working with over 1,100 capital sources, Eastern Union and its affiliates deliver a full range of financing products covering the entire capital stack: including traditional mortgages, bridge and structured lending, and equity capital, for all major property types including multifamily, office, retail, mixed-use, healthcare and industrial. For more information about Eastern Union Funding, please visit easternuc.com.