Structured and arranged preferred equity to capitalize the development of a 316,000-square-foot industrial property in Broomfield, Colorado.
Challenges
Sponsor was seeking an equity partner for a speculative development in an emerging industrial hub. The existing environmental issues that required remediation prohibited many equity providers from considering the transaction. Furthermore, a complicated two-phase loan closing structure made a traditional JV equity investment less viable.
Solutions
Identified an east coast fund manager familiar with the local market and seeking industrial development opportunities. Got investor comfortable that though pursuing small tenants made it difficult to prelease the property the prior precedence of leasing properties during development was the correct strategy for this opportunity. Worked with investor to consolidate a two-tranche funding into a single deployment to enable it to effectively invest into the deal.
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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