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.
Gary Melman joined Eyzenberg & Company in 2024 and is responsible for
originating, structuring, and placing debt and equity capital for commercial real estate
transactions throughout the U.S.
Gary is a seasoned commercial real estate finance and investment manager with
substantial institutional experience in capital markets, financing, acquisitions, and
asset management across various asset classes during his prior roles at J.P.
Morgan, TIAA-CREF, American Realty Advisors, and PCCP.
Prior to joining Eyzenberg & Company, Gary was responsible for capital markets at
Intracorp Homes, originating and placing capital for Intracorp’s multi-family,
townhome, and condominium ground up development projects on the West Coast.
Gary received an MBA in Finance from NYU Stern School of Business, a BBA in
Finance from Pace University, and is a licensed real estate broker in California.
gmelman@eyzenberg.com
D: (305) 995-0777 ext.729
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