$28MM Multifamily Property Recapitalization|Lauderhill, FL

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.

Aruyel Nurbekova

JUNIOR ANALYST

Email

anurbekova@eyzenberg.com

D: (305) 995-0777

Alexei Muniak

ORIGINATOR

Email

amuniak@eyzenberg.com

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