Eyzenberg & Company originated a $4.5MM predevelopment loan for the acquisition of land located in Panama City, Florida.
Challenges
The broader capital markets lack of enthusiasm for high levered land loans outside of primary markets was further muted by the ongoing Covid pandemic. The buyer was pressed to meet all closing conditions due to an expiring TOE purchase contract.
Solutions
Eyzenberg & Company presented the opportunity to a long-standing relationship who had familiarity with the subject market. Working closely with all parties, the Eyzenberg team was able to coordinate and execute on all closing requirements within the tight deadline and specifics of the sellers.
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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