Structured and arranged joint venture equity to capitalize the acquisition of a grocery-anchored shopping center in Richmond, VA.
Challenges
The anchor tenant was set to roll during the contemplated term of the loan. Dislocation in the CMBS market due to the COVID pandemic reduced available proceeds.
Solutions
EyzenCo identified a private family with a 1031 requirement willing to fund the majority of the equity as well as provide the necessary balance sheet to qualify for financing. A favorable seller carry was negotiated to bridge the acquisition until the CMBS markets stabilizes.
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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