Structured and placed a revolving first mortgage construction loan to complete the development of the remaining 220 units in a 398-unit Build for Rent community located in Huntsville, AL.
Challenges
The client desired to accelerate the completion of a large multi-phase development with a non-recourse high-leverage revolver. Due to the modular nature of construction, special accommodations via working credit facilities would be required from a senior lender.
Solution
Identified a specialized lender experienced with a similar development strategy and product. Structured a non-recourse senior-secured revolving facility that also provided a working capital line, enabling the developer to seamlessly order and deliver houses to the site. Facilitated and managed a complicated closing process to avoid construction and delivery delays.
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.
gmelman@eyzenberg.com
D: (305) 995-0777 ext.729
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