Eastern Union Funding Arranges $10.6M Acquisition Loan for Apartment Community in Jacksonville

JACKSONVILLE, FLA. — Eastern Union Funding arranged a $10.6 million acquisition loan for Southwind Townhomes, a 184-unit apartment community in Jacksonville. Ira Zlotowitz and Marc Belsky of Eastern Union Funding arranged the two-year loan with an 85 percent loan-to-cost ratio through Ladder Capital on behalf of the borrower, Blue Rock Partners LLC. The loan features an interest rate of 5.25 percent over LIBOR.