$9MM Multifamily Recapitalization | Fort Lauderdale, FL

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


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.


Identified a local bank that was familiar with the property and worked with the lender to structure numerous earn-out mechanisms, allowing the borrower to receive additional funds once the property demonstrated the expenses were non-recurring and the boat slips were fully leased up.

Share on social media:

Seth Shumer




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

Alexei Muniak


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.



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