CAPITAL STRUCTURE: BRIDGE LOAN/ CONSTRUCTION LOAN, MEZZANINE DEBT Newly formed finance arm of private equity vehicle seeking to deploy capital for senior housing, medical offices, student/multifamily housing, self-storage. Check size: $10 – $500MM LTV: Up to 85% LTV/LTC Rates: Spreads to LIBOR of 2.5% – 5.5% (first mortgage) or 6.0% – 10.0% (mezzanine/preferred equity) Term: Up to 7 years Amortization: Typically interest […]
CAPITAL STRUCTURE: BRIDGE LOAN/ CONSTRUCTION LOAN An aggressive East Coast Bank has dropped pricing for construction and bridge loans across various asset classes. Check size: $20-$150MM LTV: Up to 70% for Multifamily and 65% for all others Rate: Spreads ranging from high 1s to low 2s on transitional assets and high 2s to mid 2s for construction transactions Recourse: non-recourse for bridge […]
CAPITAL STRUCTURE: LAND LOAN/BRIDGE LOAN/CONSTRUCTION LOAN Balance sheet lender offering quick close, full discretion and non-recourse debt financing Check Size: $8MM-40MM LTV: Up to 75% stabilized value LTC: No loan to cost restriction Pricing: Minimum 5% Coupon Fees: 1% to 2% origination fee Term: 1 to 3 years with extension options Recourse: Non-recourse Property Types: Multifamily, retail, office, mixed-use, industrial, healthcare/life science, self-storage, […]
CAPITAL STRUCTURE: BRIDGE LOAN/ CONSTRUCTION LOAN Private debt fund offering high leverage senior debt nationwide Check Size: $5-200MM LTC/LTV: Up to 75% Amortization: Interest only Rate: High single digits Fees: 1.00% Term: Up to 60 months Prepayment Penalty: None Recourse: Recourse and non-recourse available Property Types: Multifamily, Industrial, Office, Retail, Residential and Mixed-Use Geography: Nationwide
CAPITAL STRUCTURE: CONSTRUCTION LOAN / PERMANENT LOAN An insurance company is funding large senior construction loans at a fixed rate (locked at application) that convert into the fixed-rate permanent loan. Check size: $50MM+ LTV: Max 70%; typically 65% or less Rate: Market spreads over treasuries Term: 36 months of construction term followed by 7+ year permanent loan for total of 10-25 […]
CAPITAL STRUCTURE: CONSTRUCTION LOAN / PERMANENT LOAN / PARTICIPATING LOAN An international fund manager is deploying rare participating debt investments out of its multi-billion open-ended fund. Check size: $20-$200MM LTV: 90% Rate: Current pay rate of 5-6% with 50% operating cash flow participation post debt service Waterfall: Upon a capital event: Repayment of mortgage Preferred return of 7-9% to lender Return […]
CAPITAL STRUCTURE: CONSTRUCTION LOAN/ PERMANENT LOAN/BRIDGE LOAN Community bank offering flexible debt financing for all asset types. Check Size: $5-100MM+ LTC: Up to 80% LTV Up to 80% Amortization: Interest only (Up to 30 years) Target: Minimum DSC 1.20x Recourse: Flexible. Non-recourse available on select property types based on loan metrics Property Types: All property types with a focus on multifamily, industrial, retail, […]
Gary Melman joined Eyzenberg & Company in 2024 and is responsible for
originating, structuring, and placing debt and equity capital for commercial real estate
transactions throughout the U.S.
Gary is a seasoned commercial real estate finance and investment manager with
substantial institutional experience in capital markets, financing, acquisitions, and
asset management across various asset classes during his prior roles at J.P.
Morgan, TIAA-CREF, American Realty Advisors, and PCCP.
Prior to joining Eyzenberg & Company, Gary was responsible for capital markets at
Intracorp Homes, originating and placing capital for Intracorp’s multi-family,
townhome, and condominium ground up development projects on the West Coast.
Gary received an MBA in Finance from NYU Stern School of Business, a BBA in
Finance from Pace University, and is a licensed real estate broker in California.
gmelman@eyzenberg.com
D: (305) 995-0777 ext.729
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