Are you a commercial real estate investor who is thinking about purchasing distressed mortgage notes over the coming months to expand your properly portfolio?
Eastern Union has launched a distressed notes initiative to assist commercial real estate investors looking to purchase troubled mortgage notes. The company plans to tap its database of investors to help community banks and private debt funds find buyers for distressed debt.
“We understand what lenders need and we will serve their best interests,” says Founder & CEO Ira Zlotowitz. “At the same time, we have strong and well-established business relationships with vast numbers of investors. Many will be willing to take troubled loans off of lenders’ hands.”
To help commercial lenders minimize the future damage that the COVID-19 pandemic will inevitably inflict upon their balance sheets, Eastern Union has launched a Distressed Notes Initiative that will identify investors interested in purchasing lenders’ troubled mortgages.
The company, one of the country’s largest commercial real estate finance firms, will leverage its extensive database of investors to help community banks and private debt funds find buyers for their distressed debt.
“Eastern Union has a nearly-20-year track record of service to both the lender and investor communities,” says Co-Founder & Managing Partner Abe Bergman. “We are recognized in the industry for our integrity, our proficiency and our professionalism. Our company knows how to manage the process smoothly so that everyone gets to where they want to go.”
Multiple lenders have reached out to Eastern Union saying that they expected to face liquidity issues in the coming weeks or months, especially as regulatory circumstances evolve. These lenders expect to require brokerage assistance in selling off troubled loans, and asked if Eastern Union could assist. These lender queries were part of the reason Eastern Union inaugurated the Distressed Notes Division.
It is worth noting that Eastern Union had considerable experience in the disposition of distressed debt, based upon its brokerage work during the 2008-2009 recession.
“We know exactly how lenders think during these types of downturns,” says Ira Zlotowitz. “The fact that we are in constant contact with banks right now, and understand their mindset during these challenging times, creates a close level of communication that puts us ahead of the curve and allows our team to anticipate what to expect next.”
Day-to-day management of the new unit will be handled by Eastern Union vice president Mark Rosenzweig and by vice president Boruch Mandel, both senior real estate finance executives at Eastern Union. They have extensive experience in placing both equity and debt and have collectively closed transactions valued at a total of more than $300 million.
Eastern Union is in the process of creating a database of buyers interested in purchasing distressed notes. For more details about the Distressed Notes Initiative or join this exclusive investor database, visit http://www.easternunion.com/notes today.
ABOUT EASTERN UNION
Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage firm employing more than 100 skilled brokers and real estate professionals and closing $5 billion in real estate transactions annually. Eastern Union’s capital introductions are handled through its affiliate company, Eastern Equity Advisors.
Boasting one of the highest transaction volumes in the industry, the Eastern Union team leverages its close relationships with banks and its extensive knowledge of the commercial real estate marketplace to bring clients the best rates available. Eastern Union’s tenacity and experience enable the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions.
Eastern Union’s groundbreaking commercial real estate app serves as an intelligent commercial real estate toolkit and includes features such as eCALC, which enables investors to fully value and underwrite deals instantaneously and in the palm of their hand. It is available for download in the App Store and Google Play Store.
With nationwide operations, Eastern Union is headquartered in New York, with numerous branches along the East Coast. For more information, visit www.easternunion.com.
[Press Release]