$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 Schumer


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.



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