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$28MM Multifamily Property Recapitalization|Lauderhill, FL

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Structured and arranged long-term, fixed-rate senior debt to retire an expiring bridge loan secured by a 352-unit multifamily property in Lauderhill, Florida.

Challenges

After ownership successfully executed its value-add repositioning strategy, the newly renovated complex achieved 90%+ occupancy in less than a year. Ownership required a complete cash out, which was challenging for traditional balance sheet lenders and capped potential proceeds attainable. Furthermore, a challenging neighborhood and limited operating history made it difficult for some lenders to underwrite to maximum proceeds.

Solutions

Identified a CMBS lender willing to provide maximum proceeds that exceeded traditional multifamily balance sheet lenders and fulfilled ownership’s cash out requirement. Working closely with the lender to get the B-Piece buyer comfortable with the asset, given the limited operating history and other challenges, helped ensure a successful closing.

CASE STUDIES

DEAL TYPE

CAPITAL STRUCTURE

COLLATERAL TYPE

CAPITAL SOURCE

Aruyel Nurbekova

JUNIOR ANALYST

Aruyel Nurbekova joined Eyzenberg & Company in 2022 as Junior Analyst. She assists with underwriting, analysis, and financing memoranda preparation for commercial real estate debt and equity capitalization assignments.

Prior to joining the firm, Ms. Nurbekova worked as a Business Valuation Analyst at Ernst & Young company, one of the Big Four accounting firms.

Ms. Nurbekova completed her Bachelor of Science degree in Corporate Finance and Investment Management at KIMEP University in Almaty, Kazakhstan.

Email

anurbekova@eyzenberg.com

D: (305) 995-0777

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