Eyzenberg & Company arranged a structured equity solution for the acquisition of a 314-unit multifamily property in Indianapolis, IN. Challenges Navigating the joint venture initially was relatively smooth, given that it was part of a programmatic execution between the developer and the equity capital provider. However, the closing process encountered significant complications due to a […]
Eyzenberg & Company arranged senior secured debt from an EB-5 center for the construction of two adjacent luxury townhome resort communities, totaling 73 units, in Mammoth Mountain, CA. Challenges The sponsor was mid-way through the first phase of a multi-phased construction project with an in- place capital stack but seeking a more efficient and optimal […]
Eyzenberg & Company arranged a senior secured bridge loan to recapitalize a mid-lease up 82 unit Build for Rent community in Myrtle Beach, SC Challenges The Sponsor was seeking to recapitalize the property to cover a higher than expected interest reserve requirement for the senior construction loan due to increases in SOFR. Furthermore, any extension […]
Eyzenberg & Company placed a non-recourse senior bridge loan to recapitalize a development site with existing parking and entertainment operations. Challenges The Sponsor was seeking to repay legacy debt securing an asset that has gone through several volatility cycles due to the Covid pandemic and recent economic pressures on recreational consumers. Though the parking operations […]
Eyzenberg &Company completed the recapitalization of a six-asset NNN retail portfolio across multiple markets. Challenges The Sponsor’s existing banking relationships were unable to extend credit outside of their footprint. The portfolio was dispersed across several states and, except for one, were all leased to non-credit tenants.
Eyzenberg & Company arranged $25MM in joint venture equity for the development of a 190-unit build to rent community in a mix of ranch homes and two-story townhomes in Houston MSA, TX. Challenges The capital markets landscape was under pressure with elevated interest rates, cap rate expansion and rent growth tapering. Liquidity for joint venture […]
Eyzenberg & Company structured and placed a fixed-rate 5-year term loan to refinance a $50MM retail center in Miami, Florida. Challenges With an expiring loan in an anticipated soon-to-be declining interest rate environment the sponsor was reticent to refinance into a long-term fixed-rate option. The Borrowers legal status and unwillingness to bring new deposits to […]
Eyzenberg & Company arranged a fixed rate non-recourse loan for the acquisition of a single tenant three building industrial portfolio in Terre Haute, Indiana Challenges The Sponsor was seeking max leverage to acquire a three-property portfolio leased to a single non-credit tenant. Furthermore, two of the buildings were over 80 years old with various deferred […]
Eyzenberg & Company arranged a structured equity solution for the acquisition of a 263-unit multifamily property in Louisville, KY. Challenges With the capital market landscape under pressure from rising interest rates and declining institutional appetite for equity positions in real estate, liquidity was thin for a venture partner for a multifamily property in a tertiary […]
Eyzenberg & Company arranged a $9.3MM pre-development loan to carry a luxury for-sale townhome site to a construction loan closing on the water in Jupiter, FL. Challenges The Sponsor was seeking to take out an existing bridge loan that was used to acquire the site and was reaching maturity. The Sponsor had not reached the […]
Eyzenberg & Company structured a ground lease and appointed a developer for a 10-arce, 500,000+ square foot 400-unit multifamily property, located in Bonita Springs Florida. Challenges The landowner was master planning a 68-acre mixed-used site and was seeking an alternative structure to monetize the various components of the development. Though the optionality of converting land […]
Eyzenberg & Company arranged a unitranche preferred equity and senior debt package to effectuate the pay off of a general partner buy a foreign limited partner on a mid-lease up multifamily property in Port Orange, FL. Challenges The general partner was seeking to exit a completed development mid-lease up while the limited partner desired to […]
Eyzenberg & Company arranged a highly structured 12-month lot development loan with additional CapEx for clubhouse, tax obligations to investors, and existing loan takeout in the Bay Creek Development located in Cape Charles, VA. Challenges The client was seeking financing on destination, “for sale,” product in what appeared to be a very tertiary market with […]
Eyzenberg & Company structured and arranged ten-year fixed rate debt to retire a bridge loan secured by a 402-unit apartment complex in Memphis, Tennessee. Challenges A quickly escalating interest rate environment was greatly increasing borrowing costs on the floating rate acquisition loan. Though the borrower had cut operating costs they were still early in the […]
Placed fixed-rate permanent loan and preferred equity to acquire a value add 287-unit apartment complex in Virginia Beach, VA. Challenges A steadily rising interest rate environment and volatile end-of-year reinsurance market threatened to impact underwriting metrics prior to closing. A reduction in senior loan proceeds necessitated the integration of preferred equity into the capital stack. […]
Eyzenberg & Company placed a permanent senior loan to refinance a 384-unit garden-style multifamily community in Memphis, TN. Challenges The Borrower had completed their crime mitigation and lease up business plan thereby stabilizing the apartment community. With a turnaround complete the property’s value increased substantially during the short ownership period creating an opportunity for a significant […]
Placed non-recourse fixed rate senior financing for the acquisition of an 84-acre plot of land in Freeport, Florida. Challenges Sponsor was seeking an acquisition loan to acquire land slated for a future Build to Rent community. Though the property was well located and fully entitled, rapidly changing market conditions had given multiple lenders pause […]
Structured and arranged a non-recourse fixed rate loan for the acquisition of an 80-unit multifamily property in Charleston, South Carolina. Challenges Sponsor was seeking a non-recourse acquisition loan to hedge against rapidly escalating interest rates. Though the property was 97% leased at contract signing its occupancy dropped during due diligence due to a lackluster leasing […]
Arranged a fixed-rate permanent loan to recapitalize a newly built 224-unit apartment complex in Baton Rouge, LA. Challenges Client was seeking to retire a high-levered bridge and mezzanine loan combination with near-term expiration. Timing was critical since the newly constructed property was still in lease up and the loan would only fund upon a set […]
Structured and arranged long-term, fixed-rate senior debt for the acquisition of a 44-unit, rent-stabilized building in the Washington Heights neighborhood of Manhattan. Challenges Rent-stabilized units and a non-conforming ground floor retail unit prevented lenders from underwriting to the building’s full value, reducing initial loan proceeds.
Structured and arranged long-term, fixed-rate senior debt to recapitalize a single-tenant, 7,000-square-foot retail co-op in Manhattan’s Soho neighborhood. Challenges Co-op financing is especially difficult given the ownership structure of real estate and the limited number of lenders for these types of transactions.
Structured and arranged medium-term, fixed-rate senior debt to recapitalize a 58-unit, multifamily property in Fort Lauderdale, Florida. Challenges Ownership wanted flexibility of prepayment while locking in current low-interest rates. The lack of operating history of the adjoining boat slips made it difficult to obtain a full permanent loan as this income was not included in […]
Structured and arranged a combination of long-term, fixed-rate senior debt and joint venture equity to capitalize the acquisition and repositioning of a 157,000-square-foot shopping center in Lake Charles, Louisiana. Challenges The sponsor had a short timeframe to close while dealing with title issues caused by several non-consolidated ground leases. Additionally, with a Walmart opening nearby, […]
Structured and arranged a non-recourse bridge loan for the acquisition of a historic 43,000-square-foot office building in Downtown Miami, Florida. The borrower planned to take the property through the permitting process to add 10 stories and convert into a hotel. Challenges The borrower’s potential lender dropped the deal in the middle of due diligence, forcing […]
Structured and arranged a high-leverage, short-term bridge loan to refinance an 11-unit, multifamily property in Boston, Massachusetts. Challenges The client had a short timeframe to close and a need for a flexible prepayment option on a low cash-flowing asset. Additionally, the properties high value relative to in-place cash flow made it difficult to achieve significant […]
