Eyzenberg & Company structured a ground lease and appointed a developer for a 10-arce, 500,000+ square foot 400-unit multifamily property, located in Bonita Springs Florida.
Challenges
The landowner was master planning a 68-acre mixed-used site and was seeking an alternative structure to monetize the various components of the development. Though the optionality of converting land into a fixed income asset via a ground lease was appealing, the suburban location on the west coast of Florida was perceived to be a deterrent to the structure.
