Structured and placed a first mortgage permanent loan to recapitalize a 63,937 sq ft grocery anchored retail center.
Challenges
Sponsor desired to recapitalize their existing highly leveraged retail property with long-term debt. The current transitional loan was nearing maturity as the COVID pandemic took effect. Compounding matters, several tenants asked for rent relief during the placement process.
Solutions
Eyzenberg & Company identified a credit union willing to underwrite retail with several short-duration leases in place. Though several participants in the loan backed out during the peak of the COVID crisis, Eyzenberg & Company continued to work with the lead lender to bring in additional participants and eventually close the loan.
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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