$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.

Aruyel Nurbekova

JUNIOR ANALYST

Email

anurbekova@eyzenberg.com

D: (305) 995-0777

Alexei Muniak

ORIGINATOR

Email

amuniak@eyzenberg.com

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