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Eastern Union Unveils Free App to Underwrite Deals Remotely
With COVID-19 rewriting the rules on transacting business, Eastern Union has rolled out a free app to help buyers, lenders and brokers underwrite remotely. The Brooklyn-based CRE finance firm had its eCALC software in development for months, but decided to rush release it to assist industry members scrambling to close deals from home.
“The investors and syndicators I’ve spoken with are very worried,” said Eastern Union president Ira Zlotowitz. “With the coronavirus forcing people to work at home or remotely, Eastern Union decided to speed up the app release, and we will continue to add additional innovative features.”
He added, “In less than four minutes, you can transform an offering memorandum or a basic setup to a calculator, and view a full 10-year model that will calculate internal rate of return, equity multipliers, and ROI– all without requiring expensive software programs or a large back-office staff to run the numbers.”
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- ◦Financing
