CEO says offering will help clients match with tenants "at no additional cost"
Commercial mortgage brokerage GPARENCY has announced its first commission-free tenant placement for a client in New York City’s Financial District.
The move comes as the firm makes strides to leverage its proprietary technology to serve clients seeking occupancy solutions for small office spaces.
CEO Ira Zlotowitz said its new service is meant to help clients match with tenants “at no additional cost.”
“We’re listening to our clients’ needs and redefining the value a mortgage brokerage can offer,” he said.
As part of this offering, GPARENCY said it recently secured a five-year lease for a 2,340 square foot office space in the highly coveted financial district without charging any commission.
The new service is currently being tested across the nation as part of a beta test, according to a news release.
GPARENCY has established a reputation for its “on your terms” mortgage financing solutions, which include options for direct structuring of deals or comprehensive mortgage assistance for a flat fee or a fractional point at closing.
The firm also recently introduced a new product called Agency-Direct, aimed at facilitating direct access to Fannie Mae and Freddie Mac without the penalties typically associated with broker involvement.
Other developments within GPARENCY include upgrades to its commercial real estate (CRE) platform. Last June, the firm announced that it had added a new feature designed to streamline the acquisition and due diligence management process.
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