BROOKLYN, N.Y., Aug. 25, 2020 /PRNewswire/ --Eastern Equity Advisors -- an affiliate company of Eastern Union, one of the country's largest real estate finance companies -- has promoted Yehuda Schuck to the position of managing director. In this role, Mr. Schuck will manage and broaden the company's wide network of private equity funds, real estate funds, family offices, hedge funds and institutions.
Eastern Equity Advisors is responsible for directly handling Eastern Union's capital introductions.
With his added responsibilities, Mr. Schuck builds upon his record of success as vice president of Eastern Equity Advisors, a position he had held since August 2017. He has been responsible for identifying and placing almost all of the equity that the company has placed since that time.
"At this moment of economic volatility, real estate finance companies must strengthen their relationships with the widest-possible spectrum of equity sources," said Ira Zlotowitz, Eastern Union's founder and president. "Yehuda Schuck understands the goals of equity players. He'll be nurturing our rapport with all of these funds."
"Eastern Union has an excellent reputation in the marketplace for meeting the financing needs of owners, developers and investors," said Mr. Schuck. "I look forward to helping our partners identify opportunities that stand to deliver maximum advantage from their stakes in Eastern Union transactions."
Eastern Union has recently experienced a surge in owner and investor demand for refinancings of multi-family properties holding mortgages with Fannie Mae and Freddie Mac. The big increase began this spring, when the company's Multi-Family Group began charging a market-resetting quarter-point fee -- with no back-end fees -- for these transactions, known as "agency deals."
With his new title, Mr. Schuck -- a registered representative of Palladium Capital Group, LLC -- will play a critical role in managing Eastern Union's expanded deal volume by identifying equity sources.
Eastern Equity Advisors has provided capital introductions valued at $456.5 million since it was founded in 2015.
"Amid today's uncertainty, some funds are investing and others are holding back," said Abraham Bergman, managing partner with Eastern Union. "Yehuda Schuck will help them wisely target their resources. He'll work with fund managers to identify transactions that best align with the funds' objectives."
About Eastern Union and Eastern Equity Advisors
Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage firm employing more than 125 brokers and real estate professionals and closing $5 billion in real estate transactions annually.
Boasting one of the industry's highest transaction volumes, the Eastern Union team leverages its relationships with banks and its marketplace knowledge to bring clients the best available rates.
The firm arranges financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. Eastern Union's Multi-Family Group has reset market pricing by introducing an unprecedented quarter-point fee -- with no back-end fees -- for refinancing multifamily properties backed by Fannie Mae or Freddie Mac, transactions known as "agency refinancings."
Eastern Union's groundbreaking app serves as an intelligent commercial real estate toolkit. Its eCALC feature enables investors to fully value and underwrite deals instantaneously and in the palm of their hand. It is available for download in the App Store and Google Play Store.
With nationwide operations, Eastern Union is headquartered in New York, with multiple branches along the East Coast.
Eastern Union's capital introductions are handled through its affiliate company, Eastern Equity Advisors.
For more information, visit www.easternunion.com.
Media contact:
Steve Vitoff
Eastern Union
516 652 0785
246077@email4pr.com
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SOURCE Eastern Union