Eastern Union Commercial.Eastern Union Commercial has announced the following transactions: * A $4.5 million acquisition loan for a 26 unit condo-conversion in Avon-By-The-Sea, N.J. This transaction was arranged by Marc Pollack pollack: see cod. pollack or pollock Either of two commercially important North Atlantic species of food fish in the cod family (Gadidae). ; * A $1.575 million first lien lien, claim or charge held by one party, on property owned by a second party, as security for payment of some debt, obligation, or duty owed by that second party. mortgage for the acquisition of a four-story, 17-unit, multi-family building in Brooklyn, N.Y. This transaction was arranged by Jacob Jacob (jā`kəb), in the Bible, ancestor of the Hebrews, the younger of Isaac and Rebecca's twin sons; the older was Esau. In exchange for a bowl of lentil soup, Jacob obtained Esau's birthright and, with his mother's help, received the blessing Dahan. The loan featured a rate of 5.81% and a seven-year term; * A $1.125 million first lien mortgage for the acquisition of an 8,200 s/f commercial office building in Oakhurst, N.J. This transaction was arranged by Marc Pollack. The loan featured a rate of 8.75% and a 1 year term, interest only; * A $1.68 million first lien mortgage for the acquisition of two, twostory office buildings in Brick, N.J. This transaction was arranged by Marc Pollack. The loan featured a rate of .75% over Prime and a two-year term, interest only; * A $1.5 million first lien mortgage for the refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. of a 40,000 s/f NNN NNN Triple Net (method of computing real estate costs among commercial rental properties; lease) NNN Nippon News Network (Japan) NNN Newspaper National Network LP NNN Novy-MacNeal-Nicolle leased warehouse in Yonkers, N.Y. This transaction was arranged by Estie Freund. The loan featured a rate of 1.6% over the 10-yr T-Bill with a 10 year term, 30 year amortization. |
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