Structured and arranged a bridge loan to recapitalize a 304-unit, 216, 800-square-foot, garden rental community situated on 32.5 acres of land in Woodridge, Illinois.
Challenges
Client was seeking to repatriate capital prior to completing a value-add turnaround strategy, prompting the need to max proceeds coupled with a cash-out component. Furthermore, a multiparty ownership structure created complexities in meeting lenders balance sheet requirements.
Solutions
Conducted a comprehensive marketing process to identify a lender willing to provide an immediate cash-out option and future earn-out mechanics as the property operations continued to improve. Negotiated alternative structures and amounts to prop up bad boy carve-out guarantees. A last-minute ask to adjust interest rate cap pricing benefited borrower with substantial savings.
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
Thank you. Your newsletter subscription has been confirmed. You've been added to our list and will hear from us soon.
