Commercial real estate finance firm Eastern Union has launched a Hospitality Group, naming industry veteran Charles Hoffman to serve as managing director.
The group will provide commercial financing services to hotels and short-term rental properties across America, with a special focus on localities where the hospitality market has been weakened by the COVID-19 pandemic. Eastern Union has served numerous clients in the hospitality industry over its 20-year history.
“Charles Hoffman is eminently qualified to lead Eastern Union’s new Hospitality Group,” said Abe Bergman, co-founder and managing partner of Eastern Union. “He has an intimate understanding of the entire capital stack associated with the hotel industry, and he understands the degree to which the pandemic has stirred up volatility within this sector.
Hoffman has spent more than 17 years as a commercial real estate professional, including experience as a lender, owner and developer. He has had an extensive history of involvement with hotel financing and has developed relationships with more than 60 hospitality lenders. Hoffman managed a family office for more than a decade, and has attended the Schack Institute of Real Estate at the New York University School of Professional Studies.
