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New York & Tri-State  + Outer  + Finance  |  December 10, 2019
Paul Bubny
By: Paul Bubny

Eastern Union Launches Pooled Loan Division

Brooklyn-based Eastern Union has launched a pooled loan division that will deliver below-market interest rates for borrowers. Borrowers will receive the discounted rates by pooling multiple loans, and approaching lenders as a group when seeking financing, says Eastern Union.

The company says lenders will offer lower rates to these pooled borrowers because of the savings and efficiencies the lenders will reap by processing multiple loans for a cluster of similar properties simultaneously. The new division is targeting banks and pension funds with this initiative.

“Lenders will have the chance to streamline their traditional approach by closing 10 or 15 transactions—with a total value of a quarter-billion dollars—all as part of a single loan,” said Eastern Union founder Ira Zlotowitz. “In return for this new efficiency, lenders will offer the pooled borrowers lower rates.”

For comments, questions or concerns, please contact Paul Bubny

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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 16-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 7-10 daily news stories per day and 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 GlobeSt.com 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. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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