(UPDATE BELOW) As a commercial real estate investor these past few months have been like a roller coaster, not to mention the past few weeks. With lending sources quickly being eliminated, investors who are up for refinances or in midst of a purchase have been left scrambling to find assistance. Eastern Union, one of the few select mortgage companies still actively closing commercial real estate loans – with more than 80 closings since Memorial Day, including 19 closings within the past 3 weeks — has rolled out “THE SCOOP”. A flat-fee service that is geared towards active investors and those with large commercial real estate portfolios, fine-tuned for the mindset of the new markets of today and tomorrow.

In this new market environment, commercial real estate investors have found themselves in a quandary adjusting to the current unrest and uncertainty. As lending options are drying up on a daily basis, they have come to the realization that professional assistance with their transactions is quickly becoming the only option. While in the recent past, some investors would process/close simple cash-flowing deals without any outside assistance, in this current market, they acknowledge the need for professional input from people within the lending industry who are always abreast of the current lending institutions and different options.

In short, investors are looking for guidance and sound advice for their purchases and refinances and realize the need to consult with an analyst/underwriter whom they can trust with unbiased advice. Not to neglect the value-added deals, for which the market now dictates the necessity for a regular mortgage broker.

Until now, investors had only one option: pay a broker 1%, or do the deals in-house without the benefit of a brokerage firm guiding them.  Now with “THE SCOOP”, for a monthly fee you can have the luxury of never paying more than ¼ of the 1% mortgage brokerage fee to finance stable and cash-flowing multi-family, office, retail, or industrial properties. In some cases you will not even have to pay a ¼ of the 1%, as part of “The SCOOP” flat monthly fee; you will be provided with an analyst/underwriter to run the deal from inception through closing. In addition, clients of “THE SCOOP” will have unfettered access to Eastern Union’s banking relationships, industry knowledge and know-how.

Investors will have the peace of mind knowing they have the guidance, ability to consult, and strategize with a team of professionals within the lending arena. Ira Zlotowitz, President of Eastern Union, whose broad knowledge of the markets are well established, will be available as part of the exclusive investors membership with “THE SCOOP”, as well as Eastern Union’s top underwriters and Heads of Banking Relationships. If mid-stream an investor feels the need for more than just an analyst and would like to engage one of Eastern Union’s Loan officers, Eastern Union will provide a loan officer for a fee of only ¼ of 1%.  If the deal is not stable or does not fall under one of the four main property types, then Eastern Union will broker the deal with its normal brokerage fee.

“We believe this new concept will revolutionize and redefine the industry” says Ira Zlotowitz. “Investors need more options in today’s market and we are at the forefront in understanding and interpreting this new market. One of the numerous new innovations that we have been actively pursuing is obtaining new sources of money in the U.S and abroad. This in turn will afford our clients, the ability to have their loans placed via “THE SCOOP”,  providing the flexibility investors need to navigate through these unchartered waters.”

UPDATE: As first reported here, Eastern Union rolled out its new division THE SCOOP. The initial response has been very positive and has seen investors taking an interest in better understanding this new service. As such Eastern union is currently expanding and hiring salespeople to assist in further marketing this product out to the greater commercial real estate industry.

For more information please contact Ira Zlotowitz directly at [email protected] or by calling 917-597-2197