Case Study: $7MM | Retail | Recapitalization | Hollywood, FL
Eyzenberg & Company originated and placed a permanent loan to recapitalize an existing single tenant retail asset occupied by a restaurant tenant in Hollywood, Florida.
The global pandemic had major negative implications for retail properties. Many lenders were shying away from single tenant retail due to its concentrated risk for potential vacancy and revenue loss.
Eyzenberg & company identified a local bank willing to advance proceeds based on the value of the asset, experienced sponsorship, and strong tenant performance. The lender’s familiarity with the market and strong location allowed it to get comfortable with the sustainability of the tenancy.