Eastern Union launches a hotel group
NEW YORK, 28 October 2021 / PRNewswire / – Eastern Union, one of the country’s largest commercial real estate finance companies, has launched a hotel group and named an industry veteran Charles Hoffmann become general manager of the new unit.
The Hospitality Group will provide commercial finance services to hotels and short-term rental properties across America, with a particular focus on localities where the hospitality market has been weakened by the COVID-19 pandemic.
Charles Hoffman has been appointed managing director of the Eastern Union hotel group. The new unit provides commercial finance services to hotels and short-term rental properties across America. Eastern Union is one of the country’s largest commercial real estate finance companies.
Eastern Union has served numerous clients in the hospitality industry over its twenty year history, as well as a full range of other areas of commercial real estate.
Charles Hoffmann has spent over 17 years as a commercial real estate professional including experience as a lender, owner and developer. He has a long history of involvement in hotel financing and has developed relationships with over 60 hotel lenders. Mr. Hoffman ran a family office for over a decade, and attended the Schack Institute of Real Estate at New York University School of Professional Studies.
“Charles Hoffmann is eminently qualified to lead the new hotel group of Eastern Union ”, declared Abe bergman, co-founder and managing partner of Eastern Union. “He has privacy agreement of the entire associated capital stack with the hospitality industry, and he understands how the pandemic has fueled volatility within the industry.
“Hospitality poses particular challenges as an asset class,” said Mr. Bergman. “It’s difficult to underwrite and manage, and COVID-19 has added new complications. Charles Hoffmann will manage a qualified team of specialists ready to serve this sector. “
About the Eastern Union
Founded in 2001, Eastern Union is one of the nation’s leading commercial mortgage brokerage firms. It employs more than 125 real estate professionals and closes on average $ 5 billion in transactions every year. Eastern Union leverages its relationships with lenders and market knowledge to ensure the best rates and terms available.
Eastern Union, headquartered in new York, concludes transactions of all sizes through United States. It secures the financing of all types of assets. Transactions – which can include multi-state and multi-site portfolios – encompass both conventional and structured financing. In 2020, Eastern Union’s multi-family group reset market prices by offering a quarter point fee for refinancing properties backed by Fannie Mae or Freddie Mac. The introductions of capital are managed by the subsidiary of Eastern Union, Eastern Equity Advisors.
For more information visit www.easternunion.com.
Media contact:
Steve vitoff
Eastern Union
516 652 0785
[email protected]
SOURCE Eastern Union
