$10MM Mortgage Recapitalization | NY, NJ & DE

Eyzenberg & Company structured and arranged a credit facility for a newly formed debt fund originating fix and flip loans to single family home investors. The purpose of the facility was to warehouse the notes on a line and provide additional liquidity and lending capacity to the fund.

Challenges

With a limited pool of capital providers focused on providing warehouse lines and the newly formed nature of the fund made it difficult to obtain a dedicated credit facility. Further, the existing providers tend to focus on larger facilities with more concentrated advance tranches.

Solutions

Eyzenberg & Company identified a regional bank with a newly formed lender finance platform that was comfortable providing smaller facility sizes and understood the nature of the client’s borrowing base.

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Seth Schumer

MANAGING DIRECTOR

Seth Schumer joined Eyzenberg & Company as a Managing Director. His primary focus is transaction management and structuring advisory for commercial real estate finance transactions.

Prior to joining the firm, Schumer served as Head of US Investments for Quadrum Global (formerly Cube Capital) where he grew platform from one US hotel investment to an 18-asset mixed use portfolio through new acquisitions, ground-up developments, team building and creation of three internal operating platforms (Tesseract Investment Advisors, Arlo Hotel Management and Quadrum Senior Living Management). While at Quadrum, Schumer acquired, capitalized and asset managed a hotel portfolio that includes Arlo SoHo, Arlo NoMad, Nautilus South Beach, The Godfrey Hotel Chicago, Essex Inn Chicago, and B Resort & Spa at Walt Disney World, and led the efforts to create an in-house hotel management platform and the new Arlo Hotel brand. He additionally led the efforts to develop a senior housing property and the Amavida brand.

His expertise in debt financing including loan underwriting, servicing and borrower relations was learned while working in London for ABN AMRO, and in New York for Chase Manhattan Bank and Chemical Bank. Whilst at AIG Global Real Estate and Real Estate Capital Partners (now CP Capital), he additionally gained asset management, development insight and JV equity structuring experience. Also, during his time at AIG, Seth was part of team that acquired four RTC loan portfolios.

Schumer holds a master’s degree in real estate investment and development from New York University and a bachelor’s degree in accounting from the University of Maryland.

Email

sschumer@Eyzenberg.com

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