$15MM Land Recapitalization | Daytona Beach, FL

Structured and arranged a short-term, fixed-rate bridge loan to fund predevelopment costs of a multi-phase mixed-use marina, hotel and retail project in Daytona Beach, FL.


Client was seeking to retire an expiring bridge loan and fund the completion of remaining predevelopment obligations. Furthermore, Client desired a cash out component to repatriate monies into other projects. Additionally, the collateral consisted of fee simple land and a leasehold on adjacent submerged land with only a 5-year lease term over which the marina would reside.


Eyzenberg & Company demonstrated to the ultimate lender that a 5-year lease term for submerged land owned by the federal government were normal. Relying on soft quotes from potential take out capital providers, the lender was comfortable with the cash out component given the remaining amount of equity would be sufficient to complete the capital stack for the subsequent construction loan.

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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