$7.5MM Land Recapitalization | Cape Charles, VA

Eyzenberg & Company arranged a highly structured 12-month lot development loan with additional CapEx for clubhouse, tax obligations to investors, and existing loan takeout in the Bay Creek Development located in Cape Charles, VA.


The client was seeking financing on destination, “for sale,” product in what appeared to be a very tertiary market with retail buyer takeout. Further the client needed the proceeds for horizontal lot work and additional ancillary projects, including clubhouse, golf & tennis facilities, and other improvements. The project sits on a conservation easement thereby requiring Borrower to utilize some of the proceeds to address tax distributions for the investors in the project as it continues to grow and reach completion. Lastly, the client wanted the option to keep additional dollars available and pay a balloon on the loan keeping capacity outstanding, if necessary, with options to extend an additional year.


Eyzenberg &Company was able to leverage the clients demonstrated track record and transparent, “real time,” operations to show the lenders day-to-day trailing 3-year sales records. Additionally, the client was able to offer additional collateral to enhance and provide predictable paydown of the loan request. While the option for non-recourse was available with a higher paydown requirement the client opted for a lower percentage with recourse on the loan.

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Seth Shumer




D: (305) 995-0777 ext .306
C: (305) 360-9625 

Alexei Muniak


Mr. Muniak joined Eyzenberg & Company in 2022 to focus on debt and equity originations in his newly adopted home of South Florida.

Mr. Muniak is Co-Founder and Managing Partner at Makal Equities, a real estate investment firm specializing in multifamily, industrial and retail property in Southern California and New York. He invested, sourced, and underwrote all commercial development and investment opportunities during this time. Furthermore, Mr. Muniak’s previous position as Managing Director at a Family Office in New York allowed him to develop his skills as he increasingly became involved in all aspects of fundraising and deploying the fund’s investment mandate. In his career to date he has invested, sourced, and underwrote commercial development and investment contracts, exceeding 100 million dollars.

Furthermore, Mr. Muniak is a Board Member and shareholder of the Mangia Hospitality Group in New York, where he oversees all aspects of fundraising, including the Group’s investment mandates. As a strategic dealmaker, Mr. Muniak is responsible for retail acquisitions & new developments and acts as a liaison with City and State Government bureaus. Due to his established reputation as a key player in the real estate and hospitality industry, Mr. Muniak has managed to build a wide portfolio of bicoastal projects and has worked closely with top developers, entrepreneurs, and restaurateurs nationwide.

Originally from New York City, Mr. Muniak graduated from Johnson & Wales University in Rhode Island, and completed his graduate Business certificate in Sydney, Australia. He is a long-time martial artist and a philanthropist.



D: (305) 995-0777 ext. 309
C: (917) 536-1057