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 solution for the remaining phases for both project.
Solutions
Eyzenberg & Company identified an EB-5 lender as an efficient and low-cost option solving the remaining capital need including repatriation of equity. The project, located within a rural TEA location (which allows for priority EB5 processing) and in the heart of California’s premier ski and outdoor destination made for a very attractive proposition to EB5 investors. The staggered capitalization of an EB-5 raises, while challenging, fit well with the sponsors phased business plan and existing capitalization.
