CONTACT

$92MM Resort Development|Destin, FL

| | |

Structured and arranged a construction loan to develop Phase 1 of a larger five-phase resort along the Gulf of Mexico in Destin, Florida. The Phase 1 building is designed as a 170-key hotel and conference center with private beach access in front of the adjacent State Park Reserve.

Challenges

The resort’s location in a non-primary market, and EB-5 component with ongoing fundraising efforts, made the funding opportunity challenging to many local balance sheet lenders. Furthermore, the uncertain release timing of the EB-5 funds required the sponsor to implement a pari-passu funding structure with the lender.

Solutions

Identified a lender who was familiar with the market and was able to get comfortable with the underlying collateral, liquidity and experience of the sponsorship team and hotel operator. Crafted a creative financial solution that enabled the lender to engage in a pari-passu funding structure without additional cash requirements from the sponsor.

CASE STUDIES

DEAL TYPE

CAPITAL STRUCTURE

COLLATERAL TYPE

CAPITAL SOURCE

Aruyel Nurbekova

JUNIOR ANALYST

Aruyel Nurbekova joined Eyzenberg & Company in 2022 as Junior Analyst. She assists with underwriting, analysis, and financing memoranda preparation for commercial real estate debt and equity capitalization assignments.

Prior to joining the firm, Ms. Nurbekova worked as a Business Valuation Analyst at Ernst & Young company, one of the Big Four accounting firms.

Ms. Nurbekova completed her Bachelor of Science degree in Corporate Finance and Investment Management at KIMEP University in Almaty, Kazakhstan.

Email

anurbekova@eyzenberg.com

D: (305) 995-0777

Alexei Muniak

ORIGINATOR

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.

Email

amuniak@eyzenberg.com

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