LAKEWOOD, NJ–Eastern Union Funding negotiated a $19.5 million loan for the buyer of Washington Square Apartments here, in a deal that took just 30 days start-to-finish, GlobeSt.com has learned.
The Orbach Group sold a 144-unit property with retail here last week for $26 million, according to Eastern Union, which arranged a $19.5 million mortgage loan for the buyer.
Shaya Ackerman negotiated the loan for the unidentified buyer of Washington Square apartments. The loan was provided by Investors Bank, and carries a 3.375% fixed interest rate on a seven-year term.
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