PHILADELPHIA–The privately owned Eastern Union Commercial mortgage company has expanded its Northeastern presence by opening an office at 100 South Broad Street in the heart of downtown Philadelphia.
Eli Breiner, a managing director with Eastern Union, will lead the new office. Breiner, one of the firm’s highest-producing brokers in New Jersey, has recently arranged financing for a number of prominent real estate owners in the Philadelphia area. He possesses an extensive network of contacts with bankers and investors across the Northeast.
Originally from Connecticut, Breiner has worked closely with numerous lenders in that state, including People’s United Bank. As a senior broker in Eastern Union’s New Jersey office, he worked with Investors Bank and other banks and investors.
In Philadelphia, Breiner said, he will focus on kindling fresh relationships between these institutional contacts and real estate borrowers.
“Under Eli Breiner’s leadership, Eastern Union will play a major role in serving the financing needs of the Philadelphia real estate community,” says Ira Zlotowitz, president of Eastern Union Commercial. “Borrowers here are eager for financing alternatives, and Eli and his team know precisely how to meet borrowers’ needs.”
In recent months, Breiner has closed loans valued at more than $62 million, including those for multi-family, mixed-use and medical office properties. Breiner arranges financing for transactions of $1 million and above, with the average loan totaling about $10 million.
“Bankers and lenders from outside the area will be pleasantly surprised by opportunities available to them in Philadelphia,” says Breiner. “We are excited to be setting up operations on Broad Street, because we know investors and developers in Philadelphia will soon reap the benefit of valuable, new lending relationships we will deliver through our wide constellation of trusted bankers.”
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