$92MM Hospitality 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.


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.


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.

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Seth Schumer


Seth Schumer joined Eyzenberg & Company as a Managing Director. His primary focus is transaction management and structuring advisory for commercial real estate finance transactions.

Prior to joining the firm, Schumer served as Head of US Investments for Quadrum Global (formerly Cube Capital) where he grew platform from one US hotel investment to an 18-asset mixed use portfolio through new acquisitions, ground-up developments, team building and creation of three internal operating platforms (Tesseract Investment Advisors, Arlo Hotel Management and Quadrum Senior Living Management). While at Quadrum, Schumer acquired, capitalized and asset managed a hotel portfolio that includes Arlo SoHo, Arlo NoMad, Nautilus South Beach, The Godfrey Hotel Chicago, Essex Inn Chicago, and B Resort & Spa at Walt Disney World, and led the efforts to create an in-house hotel management platform and the new Arlo Hotel brand. He additionally led the efforts to develop a senior housing property and the Amavida brand.

His expertise in debt financing including loan underwriting, servicing and borrower relations was learned while working in London for ABN AMRO, and in New York for Chase Manhattan Bank and Chemical Bank. Whilst at AIG Global Real Estate and Real Estate Capital Partners (now CP Capital), he additionally gained asset management, development insight and JV equity structuring experience. Also, during his time at AIG, Seth was part of team that acquired four RTC loan portfolios.

Schumer holds a master’s degree in real estate investment and development from New York University and a bachelor’s degree in accounting from the University of Maryland.



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