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On the flip side, 2021 had been a “wonderful year” for Eastern Union, as the company continued to expand.
“I think it turned out to be much better than anyone in the market expected,” he said. “Lenders were very, very active. They were putting out good loans and there was a lot of capital available.”
Last week, Eastern Union reported it had closed transactions across 32 states in 2021, representing 18 different property types in 240 cities throughout the country. Transactions were also concluded with 153 different lenders.
The New York-based firm, which is currently on an expansion drive, generates around $4 billion annually, and has a wide-ranging portfolio that includes commercial real estate, healthcare, hospitality, and various investment projects.