$100MM+ Student Housing Leasehold Development | Blacksburg, VA

Structured a ground lease and appointed a developer for a 11.5-acre, 517,000-square-foot, 424-unit, purpose-built student housing complex located near the Virginia Tech campus. 


Client was working quickly to coincide the closing with obtaining final permit and approvals from the local municipality. The incumbent leasehold developer was required to ground lease the property subject to in-place approved plans and specs. The mechanics and leasehold nature of the project added complexity to the capitalization of the development.


Conducted a select marketing process focused on experienced student housing operator/developer capable of executing on a project of this scope and nature. Educated potential bidders and their capital partners on the ground lease structure and its inherent benefits. With vast experience as a principal buyer and advisor on ground lease transactions, we were able to bridge the gap on all business points between the client (leased fee owner) and the new tenant (leasehold owner).

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Seth Shumer




D: (305) 995-0777 ext .306
C: (305) 360-9625 

Alexei Muniak


Mr. Muniak joined Eyzenberg & Company in 2022 to focus on debt and equity originations in his newly adopted home of South Florida.

Mr. Muniak is Co-Founder and Managing Partner at Makal Equities, a real estate investment firm specializing in multifamily, industrial and retail property in Southern California and New York. He invested, sourced, and underwrote all commercial development and investment opportunities during this time. Furthermore, Mr. Muniak’s previous position as Managing Director at a Family Office in New York allowed him to develop his skills as he increasingly became involved in all aspects of fundraising and deploying the fund’s investment mandate. In his career to date he has invested, sourced, and underwrote commercial development and investment contracts, exceeding 100 million dollars.

Furthermore, Mr. Muniak is a Board Member and shareholder of the Mangia Hospitality Group in New York, where he oversees all aspects of fundraising, including the Group’s investment mandates. As a strategic dealmaker, Mr. Muniak is responsible for retail acquisitions & new developments and acts as a liaison with City and State Government bureaus. Due to his established reputation as a key player in the real estate and hospitality industry, Mr. Muniak has managed to build a wide portfolio of bicoastal projects and has worked closely with top developers, entrepreneurs, and restaurateurs nationwide.

Originally from New York City, Mr. Muniak graduated from Johnson & Wales University in Rhode Island, and completed his graduate Business certificate in Sydney, Australia. He is a long-time martial artist and a philanthropist.



D: (305) 995-0777 ext. 309
C: (917) 536-1057