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 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 highly structured acquisition, recapitalization and construction financing package for a three-phase multifamily development project in Las Vegas, NV. Challenges The Sponsor was seeking to terminate his original role as a participating junior lender on a three-phase multifamily development project in order to purchase and develop the second & third phases […]
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 […]
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 arranged construction financing for a new 88-unit condominium tower in downtown St. Petersburg, FL. Challenges The sponsor is a growing developer with extensive experience in the St. Petersburg market. With the project budget in a constant state of flux due to increasing construction prices from Covid, inflation, and geopolitical issues in […]
Eyzenberg & Company recapitalized a diversified $230MM healthcare portfolio by arranging an offshore, Sharia-compliant capital solution. Challenges Sourcing equity and structured capital for rural hospitals in a tertiary market proved to be a challenging endeavor for the Sponsor. Additional time constraints made it impossible to do a HUD execution.
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 […]
Eyzenberg & Company placed multiple credit lines for a single-family rental aggregation strategy across various states. Challenges The Sponsor had multiple portfolios across various partnerships in this venture and required one lender to provide debt facilities for all of them.
Structured and arranged a fixed-rate bridge loan to fund predevelopment costs for a mixed-use hotel and multi-family project in Miami, FL. Challenges Client was seeking to retire an expiring bridge loan and fund completion of remaining predevelopment costs. Additionally, client was desiring a cash out and had difficulty providing balance sheet support for the loan.
Structured and arranged a construction loan to develop a 289,000-square-foot, two-tower, mixed-use project in the Little Havana section of Miami, Florida. Designed as two split condominium and multifamily rental towers with retail space on the ground level, the development was, at the time, the first high-rise constructed in the area in more than 10 years. […]
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.
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 […]
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 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 […]
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, […]
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 […]
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 […]
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 […]
