He will help to develop the company's offering
Eastern Union, one of the nation’s largest commercial real estate mortgage brokerage firms, has named Jack Charlap (pictured) as chief revenue officer.
In his new role, Charlap is tasked with carrying forward his existing work of facilitating the professional development and productivity of the company’s senior brokerage team. He helps them develop their teams, manage their callers, and generate a strong and steadily growing deal flow. He also works with experienced brokers to develop their networking capabilities and broaden their marketing platforms.
Charlap also supports Eastern Union’s recruitment program by attracting qualified, senior-level brokers to join the company, officials said. He then supports these newly arrived, experienced brokers by supplying them with a business development infrastructure that includes caller teams of young, front-line brokers, according to a company announcement.
In addition, Charlap works with brokers across the board to promote deal origination, enable smooth execution, and ensure closings. He also assists with the onboarding and training of newly hired brokers, ensuring that they are maximizing their potential for success within the firm.
Charlap has worked with Eastern Union for nearly eight years. He began as a loan consultant, and in January - shortly after Abraham Bergman assumed the presidency of the firm - took the position of head of origination. In this expanded role, he assumed the various responsibilities enumerated above.
Read more: Eastern Union is bucking the trend for deal momentum
In his first quarter fulfilling his new duties, Charlap played a role in helping to trigger an increase in the number of new transactions brought into the company’s deal pipeline and in the number of transactions closed. He is being elevated to the position of chief revenue officer in recognition of the contribution he has been making to boost productivity among the company’s most-seasoned brokers.
“I’m gratified to take on this exciting new position with Eastern Union,” Charlap told Mortgage Professional America. “Eastern Union is a lot more than just an employer to me. I feel like it’s family. I’m committed to maximizing the success of the senior broker team.”
Bergman buttressed Charlap’s qualifications in his new post: “Jack Charlap has quickly proven that he’s well-qualified to help boost the productivity of Eastern Union’s senior brokerage staff,” said Abraham Bergman, the company’s president and CEO. “He has a solid record as a broker and a strong record of success in sales, and he knows how to motivate brokers to elevate their level of performance.
“Jack is always ready with fresh ideas and has the kind of people skills that enable him to help individual brokers tailor their own individual formulas for professional success. I’m confident he’ll exert a positive influence on our entire brokerage team.”
Founded in 2001, New York-based Eastern Union is a national commercial mortgage brokerage firm. It employs more than 90 real estate professionals and closes an average of $4 billion in transactions annually. Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms.
Eastern Union secures financing for transactions of all sizes across the United States. Transactions - which can include multi-state and multi-site portfolios - encompass conventional commercial mortgages, structured debt, healthcare, hospitality, mobile home parks, self-storage, single-family rentals, investment sales, and - handled in conjunction with company affiliate Eastern Equity Advisors - equity placement.
The move comes after the company set a new record last July, generating 321 new loan submissions from prospective borrowers. The commercial real estate finance firm said that this marks the second consecutive time it has experienced this accelerated pace of deal flow. Eastern Union also claims to have increased its number of mortgages under application to 93 loans in July.
Read next: Eastern Union sets new record in July
Additionally, the New York-based company recently locked in two deals valued at more than $50 million each. One of the two deals was secured through Eastern Union’s Multi-Family Group, a special brokerage team formed last year, while the second pending deal was closed by Eastern Union’s Healthcare Group.
“Eastern Union’s brokerage team is constantly nurturing its relationships with savings banks, balance sheet lenders, insurance companies, institutional, agency and Wall Street lenders,” Eastern Union president Ira Zlotowitz said at the time. “Our clients respect our market knowledge, our deal-making capabilities, and our technological assets. We’ve earned our clients’ confidence.”
