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$22MM Multifamily Acquisition | Huntsville, AL

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Placed a bridge loan to acquire and reposition two adjacent garden rental communities, totaling 375 units and 318,538 square feet, in Huntsville, AL.

Challenges

The assets were experiencing significant vacancy and higher-than-average delinquency rates. The sponsors’ strategy would entail creating additional vacancy to improve the credit quality of the tenancy base.
$22MM Multifamily Acquisition | Huntsville, AL

Solutions

Conducted a comprehensive marketing process to identify a lender willing to underwrite a turnaround business plan in this market. Additionally, by structuring a partial recourse component with a burn off mechanism, a bank was willing to provide the bridge loan at extremely competitive rates. The reduced rate removed the necessity for an interest reserve, resulting in higher disbursed proceeds at closing.
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Gary Melman

MANAGING DIRECTOR

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.

Email

gmelman@eyzenberg.com

D: (305) 995-0777 ext.729

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