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$95MM Multifamily Leasehold Development | Bonita Springs, FL

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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.

Solutions

Eyzenberg & Company conducted a broad marketing process focused on experienced multifamily developers. To better access a broader market, other intermediaries were invited to present the opportunity to their client base. A ground lease was structured such that potential future economic ambiguity was minimized thus creating an attractive development opportunity for would be builders. Potential bidders and their capital partners were educated on the ground lease structure and its inherent benefits. Ultimately a leasehold developer was selected and all of the lessors desired business terms were achieved.

 

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Seth Shumer

MANAGING DIRECTOR

Email

sschumer@Eyzenberg.com

D: (305) 995-0777 ext .306
C: (305) 360-9625 

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