Case Study: $6.5MM Land Parcel | Acquisition | Pensacola, FL
Structured and arranged a high-leverage bridge loan to fund the land acquisition and predevelopment for a waterfront multi-family development in Pensacola, FL.
Client had a purchase and sale agreement that expired in just 30 days. Additionally, client was seeking 90% loan to cost with no time for a formal due diligence period and very little balance sheet to support the loan.
Eyzenberg identified a private equity group based out of South Florida that was willing to provide a partial recourse loan with a right of first of refusal for equity participation. Eyzenberg & Company was able to close the transaction before the purchase and sale agreement expired.