$65.9MM Land Recapitalization | Miami, FL

Structured and arranged a fixed-rate bridge loan to fund predevelopment costs for a mixed-use hotel and multi-family project in Miami, FL. 

Challenges

Client was seeking to retire an expiring bridge loan and fund completion of remaining predevelopment costs. Additionally, client was desiring a cash out and had difficulty providing balance sheet support for the loan.

Solutions

Identified a lender willing to entertain a non-recourse land loan based on the intrinsic value of the real estate. Eyzenberg & Company demonstrated that an exit would be supported by a ground leasing the property to a third party developer which could then be financed on a long-term basis.

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