$9MM Multifamily Property Recapitalization|Fort Lauderdale, FL

Structured and arranged medium-term, fixed-rate senior debt to recapitalize a 58-unit, multifamily property in Fort Lauderdale, Florida.

Challenges

Ownership wanted flexibility of prepayment while locking in current low-interest rates. The lack of operating history of the adjoining boat slips made it difficult to obtain a full permanent loan as this income was not included in the lender’s underwriting. Additionally, the property had inflated expenses that greatly skewed the property’s NOI value.

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