$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.

$15MM Land Recapitalization | Daytona Beach, FL


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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