$35MM Single Family Rental Development|Myrtle Beach, SC

Structured and placed a first mortgage construction loan to build an initial 100 units in a 130-unit community.     

Challenges

Sponsor intended to build a single-family rental housing community at a famous Legends golf course in Myrtle Beach. While most of the surrounding properties are short-term rental, the sponsor felt comfortable introducing the new product given recent trends of consumers relocating to suburban areas. The COVID-19 pandemic proved to be the greatest challenge for the transaction, with many capital providers pausing or increasing pricing while reducing leverage.

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