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$20MM Multifamily Acquisition | NC & GA

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Arranged a bridge loan to acquire three garden rental properties totaling 380 units located in Greensboro, NC, Stone Mountain, GA, and Riverdale, GA.

Challenges

The seller lacked a cohesive asset renovation strategy that prevented the deployment of funds and ultimately led to significant vacancy. The sponsor’s strategy would entail creating additional vacancies to improve the credit quality of the tenancy base and solve operational inefficiencies. Additionally, a complicated closing process involved the defeasance of an agency loan on one of the assets and the need for multiple lender correspondents.

Solutions 

Conducted a comprehensive marketing process to identify a lender able to understand the business plan and fund significant future improvements. The loan was structured as a cross-collateralized blanket, allowing for higher proceeds and better pricing. Immense effort was expanded corralling the different entities involved due to the lender being a non-exclusive correspondent.

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Seth Shumer

MANAGING DIRECTOR

Email

sschumer@Eyzenberg.com

D: (305) 995-0777 ext .306
C: (305) 360-9625 

Alexei Muniak

ORIGINATOR

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.

Email

amuniak@eyzenberg.com

D: (305) 995-0777 ext. 309
C: (917) 536-1057