Eastern Union Funding has arranged a $7.4 million loan for the refinancing of Live Oak Apartments, a garden-style apartment community in West Houston's energy corridor. Peter Blass, a managing director with Eastern Union's New York City office, was assisted by Adelle Ross with the Howell, N.J. office's underwriting team. They secured a seven-year Freddie Mac loan, with one-year interest only, through Berkadia Commercial Mortgage on behalf of the borrower, Live Oak Apartments LLC. Situated on 5.5 acres, the 162-unit complex located at 851 Threadneedle is approximately 93% occupied.
About Eastern Union Funding
Founded in 2001, Eastern Union Funding is the country's second most active commercial mortgage company, on a transaction volume basis, and one of the top 50 fastest growing companies in NYC as reported by Crain's New York Businessthe past two years straight. A trusted advisor to its clients and innovation leader in the commercial mortgage marketplace, Eastern Union closes an average of $3 billion annually nationwide. The firm’s sophisticated debt solutions are complemented by a one-of-a-kind Equity Division. Eastern Union is headquartered in New York, with offices in New Jersey, Maryland and Israel. For more information, visit www.easternuc.com.
