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Eastern Union Closes a Record-Setting $5 Billion in Transactions in 2018

Eastern Union, one of the country’s leading commercial mortgage brokerage firms, closed a record-setting $5 billion in real estate transactions in 2018. This deal volume includes more than $1 billion in funding arranged through the firm’s Structured Finance and Bridge Division.

Overall closings for the year for Eastern Union — whose equity transactions are managed by its Eastern Equity Advisors affiliate — represented an increase of 25 percent over the company’s $4-billion volume mark during 2017.

“In 2018, the real estate marketplace continued to reaffirm its confidence in Eastern Union and our brokers,” said company founder and president Ira Zlotowitz. “We’ve capitalized upon our status as a national leader in real estate finance, working on every type of debt and equity structure across the capital stack with nearly 1,000 successful closings in 2018.”

“I am thankful to G-d for our good fortune, and to the clients and bankers who have placed their confidence in us,” he said.

Co-founded by Mr. Zlotowitz and managing partner Abe Bergman in 2001, Eastern Union today operates in conjunction with three primary entities, in addition to its conventional debt unit:

The first entity, the firm’s Structured Finance and Bridge Division, reached its $1 billion milestone last year by helping commercial real estate owners secure funding for construction, bridge, mezzanine, preferred equity and hard money loans. Managing director Mordechai Beren leads this team.

“Owners are getting more knowledgeable about the wide array of financing strategies available to them,” said Mr. Beren. “But they also know it takes creativity and sophistication to close complex deals. Our structured finance business expanded significantly this year because clients know they can rely upon Eastern Union’s expertise and relationships.”

One standout transaction within the Structured Finance and Bridge Division was a $110-million mortgage provided by Benefit Street Partners Realty Trust to refinance a large-scale apartment project in Brooklyn’s Bushwick section being developed by Bushwick Realty Holdings. The transaction was brokered by Mr. Zlotowitz and senior managing director Meir Kessner.

As another exemplary 2018 deal, Mr. Beren and Mr. Bergman arranged a $32-million bridge construction loan for a mixed-use development in Texas.

The second entity is the Healthcare Group, a division of Eastern Union. It is led by managing director Philip Krispin and vice president Nachum Soroka. This team services owners and operators of skilled nursing and assisted living facilities, hospitals and other health-related properties nationwide. The unit — the fastest growing within Eastern Union — arranges acquisition loans, bridge and HUD financing, advance lines, cash-outs, partnership buyouts and permanent debt placement.

“Real estate finance in the healthcare niche requires specialized expertise,” said Mr. Krispin. “Every member of our healthcare team has mastered the intricacies of healthcare finance. They put their know-how to use on behalf of our growing roster of satisfied clients.”

The third unit is Eastern Equity Advisors, an equity brokerage firm that is an affiliate of Eastern Union and is overseen by managing director Marc Belsky. The entity leverages long-standing relationships with a range of capital providers — along with its understanding of investment processes and requirements — to help real estate professionals raise equity from institutional and entrepreneurial sources. Eastern Equity Advisors focuses on middle-market transactions in the $15-to-$200-million range.

“Each year, the middle market taps ever more deeply into the exceptional resources of Eastern Equity Advisors,” said Mr. Belsky. “Extending across all asset types, our team draws consistent praise for its ability to gauge the potential availability of capital, to be creative with the full capital structure, and to expeditiously master and close complex deals.”

While Eastern Union brokers focus their energy on the art of executing and closing deals, the company complements their work by leveraging its exclusive relationship with QTS Services, America’s largest independent quotes and term sheet servicer based upon loan volume. QTS Services takes responsibility for the substantial groundwork associated with each transaction, encompassing shopping, producing quotes and term sheets, and packaging the deal.

“By assuming responsibility for a deal’s underpinnings,” said Pinchas Vogel, chief operating officer of QTS Services, “QTS expedites the transaction process for our network of more than 400 lenders, while enabling Eastern Union brokers to devote maximum attention to client service and devising the best possible deals.”

“Eastern Union’s success is attributable to our brokers’ unrivalled reputation for client service,” said Mark Schnurman, chief sales and operating officer at Eastern Union. “We maintain strong and steady growth by consistently refining our structure and our specialties to meet the emerging needs of the market.”

“Our brokers represent the gold standard in the commercial real estate industry,” said Mr. Bergman. “Their experience, creativity and analytical skills equip them to successfully close transactions with complex angles, delivering our clients the most creative deal structures and aggressive rates.”

About Eastern Union

Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage company. The firm — whose equity transactions are handled through its affiliated equity brokerage company named Eastern Equity Advisors — employs more than 70 highly skilled brokers and real estate professionals. Consistently putting their clients’ needs first, Eastern Union team members leverage their extensive knowledge of the market to bring clients the best rates available. Eastern Union’s experience 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 closes an average of $400 million dollars’ worth of 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.easternunion.com/.

(Press Release)

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There are 25 Comments to "Eastern Union Closes a Record-Setting $5 Billion in Transactions in 2018"

  • Ben says:

    Great! Now build the wall!

  • monroe yid says:

    gevaldig in der velt!

  • Dave says:

    Am happy he’s a big gvir!

  • South Jersey RE Mogul says:

    Kudos! I have dealt with Eastern Union on a number of deals. No surprise the achived and reached this huge mile stone! Double this in 2019 Ira!

  • who cares says:

    Who cares? why would someone wanna let people know the volume of business their doing? things are blessed when hidden from eye. not sure the purpose in this? is it to make those that are also doing good-work harder and try to be better and more successful? is it to make those that are happy with what they have-reconsider and involve themselves more in their business so that they can get more?

  • Wonderful says:

    Hkb”h blesses those who know how to use His blessings. Ira is one of those special few. A real mentch with a heart! May Hkb”h send him continued blessing.

  • Moish24/6 says:

    Who cares

  • Work ethics says:

    Ira personifies what Hgaon Reb Mordecai Gifter ztkl taught…if you want to be successful in business one has to live in the business. The R’Y said that powerful lesson must apply to Lomdei Torah as well!

  • Simcha Adler says:

    By posting such an article, exactly what value system are you celebrating? Wealth and fame, or piousness and simplicity? Shame on TLS.

  • LkwdResident says:

    Ira a few years ago launched a program that was supposed to put 100’S of frum people to work. Whatever happened to that?

  • who cares says:

    Whats the point in this? why is someone showing off his business adventures and wealth? doesnt it say that blessings come with things that are hidden from the eye? to make others more competitive? or to make others feel worthless that they barely make $100K and hes making 5 Billion?

  • sam says:

    How do I get free advertising? Or did he have to pay for this?

  • Avraham says:

    Thank you Ira for helping those families in Har Nof after that massacre.

  • I care says:

    I am so happy for IRA, Abe and the rest of the stellar staff at EU. TLS, plz continue to post these uplifting news stories. And, btw, just a little trade secret, although all the various divisions are run by 3 very capable individuals, bottom line, at the end of the day, when they have a problem, they go to Meir K. End of story.
    Continued Hatzlocha !!

  • Hunch says:

    5 billion closed.

    $50 million is the 1 point markup.
    Agents get paid .25%

    IRA profited $36 million!!

    Good stuff!!

    Kudos to him. Hard work pays off. May he continue to be zocheh to such wealth!!

  • Frumok with a cause says:

    From the Lakewood Scoop I would have expected a detailed list of all the worthy causes supported by Ira to be used as an example of what one should be doing with one’s wealth. Instead I am introduced to the Jewish billionaire. Who cares about that? Did he learn a billion daf gemarah? Did he give away a billion dollars to tzedakah? If not, then what’s the difference between him and anyone else who is running after making money as the purpose of one’s life? And why would that be in the Lakewood Scoop???

  • In support of Ira says:

    I work for a local (and worldwide) mossad hachesed. I’m appalled by some of these comments.
    Why the negativity?
    Ira loves tzedaka and chesed. He has a huge heart.
    Let’s be honest though, if a successful yid publicizes his donations, that drives more requests. I’m sure Ira is inundated already!
    As for the reason Eastern Union would publish his business success, isn’t it obvious that we always look for “the best” professionals and businesses to work with? Letting people know that Eastern is top, will hopefully drive even more interested clients their way. It’s a smart business advertising decision. Not about showing off.
    There’s only positive here!
    May Ira and his staff have continued success!

  • K9 says:

    Sad that this is what we are proud of. Why not be proud of the thousands sitting and learning a billion blatts

  • avi says:

    Ira I dont know much about you, but i see you wearing a red Trump Tie i know your an ok guy

  • Anonymous says:

    @Lakewood Scoop, if this is an Advertisement, it should say so like all the others do.

  • diego garcia says:

    Good to see good people doing well. Positive spin – this company employs many local people thus providing a nice income for all these families. Also, lots of money = lots of tzedaka to help out the needy in the community.
    For those of you reading this and feeling jealous, please keep in mind that Hashem has lots of money and if he meant for you to have money, he would find a way to get it to you. Ira doing well does not take anything from you.

  • Menachem says:

    Ira keep up the great work, and keep on doing all the CHESED that you do with the money you make.

    For all those that are criticizing Ira and the article.

    Maybe we can learn a lesson from Ira.

    Most people that become this wealthy, they become a different person, you cant speak to them, they hide, they become arrogant, they move to a different neighborhood where only rich people live, and on and on.

    Ira is not like that.

    He stayed in the same neighborhood like he lived before he made all this money with HASHEMS help obviously.

    He dosen’t hide from anyone, you can call him on his cellphone and he picks up.

    NO I AM NOT GIVING OUT HOS CELL PHONE NUMBER!!!!!!

    The CHESED that Ira does is really amazing.

    Ira as a friend, I wish that next year you double your earnings.

    Just keep on going in your great father’s footsteps.

    By a friend.

  • Yankel greenbaum says:

    For all the comments that are “filled” with jelousy this was not written to brag or to show off r ira is a toimech Torah and a massive bal tzedakah, this was done merley as a marketing campaign for the people who read this article to be impressed and perhaps use eu for funding.

  • Masmid Govoha says:

    Ira created and supports Masmid Govoha, a 24-year-old program which has incentivized over forty thousand boys to learn Torah with cheshek and geshmak. Rebbeim and parents alike have been impressed with the wonderful hasmadah they have seen being kindled through MG, and have told us of their pride at their boy’s accomplishments. The program continues to grow by word of mouth. This year alone there are 4,500 boys in the program. Ira and Eastern Union pour vast resources into these boys to bring out their best abilities and inspire them to strive to be better. Ira was doing this with great mesiras nefesh, even when the going was rough, way before he made it big. MG is only *one* of his projects for the klal, BTW.

    He is a great example of a person who uses the strengths and talents that HKB”H gave him, to do *anything he can* for for klal yisroel…and also happens to be successful at his business.

  • Yosi Fishkin says:

    I’ve been working with Ira for the past year on a complete revamping of GoDaven. He has been using his resources to help upgrade the database, site and minyan services, build a new app, and he is putting things in place that will directly increase minyan attendance worldwide. The new site will be public in approximately 1-2 weeks from now, and it’s all thanks to his support. I can vouch for the fact that Ira does this because he genuinely wants to use his resources to help klal yisroel in any way possible. People don’t realize how much chesed he has done since he participates in so many projects like this without seeking personal recognition. Kol Hakavod to Ira and I wish him continued success with his holy work!

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