Brooklyn, NY Eastern Equity Advisors, an affiliate company of Eastern Union, has promoted Yehuda Schuck to managing director.
In this role, Schuck will manage and broaden the company’s wide network of private equity funds, real estate funds, family offices, hedge funds and institutions.
Eastern Equity Advisors is responsible for directly handling Eastern Union’s capital introductions.
With his added responsibilities, Schuck builds upon his record of success as vice president of Eastern Equity Advisors, a position he had held since August 2017. He has been responsible for identifying and placing almost all of the equity that the company has placed since that time.
“At this moment of economic volatility, real estate finance companies must strengthen their relationships with the widest-possible spectrum of equity sources,” said Ira Zlotowitz, Eastern Union’s founder and president. “Yehuda Schuck understands the goals of equity players. He’ll be nurturing our rapport with all of these funds.”
“Eastern Union has an excellent reputation in the marketplace for meeting the financing needs of owners, developers and investors,” said Schuck. “I look forward to helping our partners identify opportunities that stand to deliver maximum advantage from their stakes in Eastern Union transactions.”
Eastern Union has recently experienced a surge in owner and investor demand for refinancings of multi-family properties holding mortgages with Fannie Mae and Freddie Mac. The big increase began this spring, when the company’s Multi-Family Group began charging a market-resetting quarter-point fee–with no back-end fees–for these transactions, known as “agency deals.”
With his new title, Schuck–a registered representative of Palladium Capital Group, LLC–will play a critical role in managing Eastern Union’s expanded deal volume by identifying equity sources.
Eastern Equity Advisors has provided capital introductions valued at $456.5 million since it was founded in 2015.
“Amid today’s uncertainty, some funds are investing and others are holding back,” said Abraham Bergman, managing partner with Eastern Union. “Yehuda Schuck will help them wisely target their resources. He’ll work with fund managers to identify transactions that best align with the funds’ objectives.”