Dealmaker: Eastern Union Secures $8.8M for Baltimore-Area Office Complex

(Image courtesy Eastern Union)

Eastern Union, New York, arranged $8.8 million in financing for the purchase of an office complex in Nottingham, Md., near Baltimore.

The buyer was Baltimore-based CityWide Properties. The company purchased the White Marsh Professional Center for $11.8 million.

Marc Tropp, a Senior Managing Director with Eastern Union, arranged the transaction with an unidentified lender. He secured a five-year mortgage with an interest rate fixed at 5.95%. The financing allows for one year of interest-only payments.

“In today’s credit environment, securing financing for office properties can often pose challenges,” Tropp said. “But when the transaction involves a well-located asset and an accomplished, reputable owner, banks will step forward.”