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New York & Tri-State  + Finance  | 

Eastern Union Launches Distressed Notes Initiative

To help commercial lenders minimize damage to balance sheets resulting from the COVID-19 pandemic, Eastern Union has launched a Distressed Notes Initiative that will identify investors interested in purchasing lenders’ troubled mortgages. The new initiative will be spearheaded by company co-founder and managing partner Abe Bergman.

“We understand what lenders need and we will serve their best interests,” said Bergman. “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 lenders’ hands.”

Bergman said a number of lenders had recently reached out to Eastern Union indicating that they expected to face liquidity issues in the coming weeks or months, especially as regulatory circumstances evolve.

“We know exactly how lenders think during these types of downturns,” he said. “We are in constant contact with banks right now, and we understand their mindset during these challenging times.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

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