June 9, 2020
Eastern Union has hired 75 new brokers to accommodate demand for its newly introduced quarter-point fee for refinancing multifamily properties backed by Fannie Mae or Freddie Mac. The new fee is offered by the company’s new “Multi-Family Group” under the leadership of Michael Muller and Marc Tropp.
As the anticipated hiring rate increases, the Brooklyn-based real estate finance company is aiming to create additional satellite offices in states across the country that are home to major commercial real estate markets.
“The pandemic has ushered in a new era in our sector,” said Ira Zlotowitz, Eastern Union founder and president. “We’ve responded by redefining pricing standards that had persevered for decades.”
In addition to resetting fees for agency refis, the Multi-Family Group has established a half-point fee for agency acquisitions. The new pricing also extends to CMBS multifamily transactions.
Be sure to register for the Connect National Multifamily Update – June webinar, coming up on Thursday, June 11.
For comments, questions or concerns, please contact Paul Bubny