Broker’s String of Transactions Encompassed 23 Commercial Mortgages in Five States
NEW YORK, May 19, 2022 /PRNewswire/ — Ben Schwartz, a 26-year-old senior loan originator with Eastern Union, recently closed a succession of 23 commercial mortgages valued at a total of more than $100 million over the course of a five-week period. The transactions, secured between April 1 and May 6 of this year, represented properties in five states.
Eastern Union, based in New York, is one of America’s largest providers of commercial mortgage brokerage and capital markets advisory services.
Among the 23 deals, Mr. Schwartz secured $39.3 million in financing toward the acquisition of a 504-unit multifamily property in Montgomery, AL, a $7.2-million loan for the purchase of a 238-unit multifamily asset in Cleveland, and the $5.85-million refinancing of a 74-unit multifamily property in Chicago.
Ben Schwartz has had a prolific career as a mortgage broker since joining Eastern Union in 2017 at age 21. Rapidly acclimating himself to the demands of the profession, he closed 100 transactions in 2021.
"Ben Schwartz is one of Eastern Union’s most promising young brokers," said Abraham Bergman, president and CEO of Eastern Union. "He’s taken a strategic approach to his work, and he has achieved outstanding results by doing so. We’re looking forward to more success from Ben in the future."
Mr. Schwartz attributes his accomplishments to his focus on both emerging owners and emerging lenders.
"Many beginning brokers try to make a big impact right away by targeting large-scale, established owners," he said. "But not me. Whenever possible, I work with borrowers who are generally on the younger side. Many of them are buying commercial assets for the first time. I then make an effort to nurture long-term relationships with these brokers, and be there for them as they grow.
"In a parallel way, I like looking for small, private fund lenders who mainly have a history of financing small-scale multifamily assets," Mr. Schwartz said. "I then work hard and patiently to graduate these lenders up to larger assets.
"This twin strategy proved to be a winning formula this past spring."
The properties financed during Mr. Schwartz’s five-week run were located in Alabama, Connecticut, Illinois, New York and Ohio.
About Eastern Union
Founded in 2001, Eastern Union is a national commercial real estate firm that provides both financing services and capital markets advisory services. It employs more than 90 real estate professionals and closes an average of $4 billion in transactions annually. Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms.
Headquartered in New York, Eastern Union secures financing for transactions of all sizes across the United States. Transactions, which can include multi-state and multi-site portfolios, encompass conventional commercial mortgages, structured debt, healthcare, hospitality, mobile home parks, single-family rentals, investment sales, and — handled in conjunction with company affiliate Eastern Equity Advisors — equity placement.
For more information, visit www.easternunion.com.
Media contact:
Steve Vitoff
Eastern Union
516 652 0785
336765@email4pr.com
SOURCE Eastern Union
