Case Study: $34 MM Multifamily | Acquisition | Rochester, NY

Eyzenberg & Company structured and arranged preferred equity for 328-unit multifamily property in Rochester, NY. 

Challenges

The acquisition included a challenging loan assumption with limited cash flow above the current debt service. The properties’ location in upstate New York made it less appealing to primary market-focused institutional capital providers. 

Solutions

Eyzenberg & Company was able to identify a private equity firm willing to provide a highly levered preferred equity solution. The capital provider was able to get comfortable with its basis exposure by cross-collateralizing other fractional ownership positions that the Sponsor had.