$34MM Multifamily Acquisition | Rochester, NY

Acquisition | Multifamily | PE Fund | Preferred Equity

Eyzenberg & Company structured and arranged preferred equity for 328-unit multifamily property in Rochester, NY.

Challenges

The acquisition included a challenging loan assumption with limited cash flow above the current debt service. The properties’ location in upstate New York made it less appealing to primary market-focused institutional capital providers.

Solutions

Eyzenberg & Company was able to identify a private equity firm willing to provide a highly levered preferred equity solution. The capital provider was able to get comfortable with its basis exposure by cross-collateralizing other fractional ownership positions that the Sponsor had.

$34MM Multifamily Acquisition | Rochester, NY

Acquisition | Multifamily | PE Fund | Preferred Equity

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