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.
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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