$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 Schumer


Seth Schumer joined Eyzenberg & Company as a Managing Director. His primary focus is transaction management and structuring advisory for commercial real estate finance transactions.

Prior to joining the firm, Schumer served as Head of US Investments for Quadrum Global (formerly Cube Capital) where he grew platform from one US hotel investment to an 18-asset mixed use portfolio through new acquisitions, ground-up developments, team building and creation of three internal operating platforms (Tesseract Investment Advisors, Arlo Hotel Management and Quadrum Senior Living Management). While at Quadrum, Schumer acquired, capitalized and asset managed a hotel portfolio that includes Arlo SoHo, Arlo NoMad, Nautilus South Beach, The Godfrey Hotel Chicago, Essex Inn Chicago, and B Resort & Spa at Walt Disney World, and led the efforts to create an in-house hotel management platform and the new Arlo Hotel brand. He additionally led the efforts to develop a senior housing property and the Amavida brand.

His expertise in debt financing including loan underwriting, servicing and borrower relations was learned while working in London for ABN AMRO, and in New York for Chase Manhattan Bank and Chemical Bank. Whilst at AIG Global Real Estate and Real Estate Capital Partners (now CP Capital), he additionally gained asset management, development insight and JV equity structuring experience. Also, during his time at AIG, Seth was part of team that acquired four RTC loan portfolios.

Schumer holds a master’s degree in real estate investment and development from New York University and a bachelor’s degree in accounting from the University of Maryland.



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