Structured and arranged medium-term, fixed-rate senior debt to recapitalize a 2.53-acre surface parking lot along the boardwalk in Myrtle Beach, South Carolina.
Challenges
Most lenders shy away from financing surface parking lots, preferring structured parking opportunities. Additionally, ownership had less than two years of operating history.
Solutions
Identified a CMBS lender willing to finance against a seasonally structured, 15-year master lease that effectively guarantees rental payments.
Gary Melman joined Eyzenberg & Company in 2024 and is responsible for
originating, structuring, and placing debt and equity capital for commercial real estate
transactions throughout the U.S.
Gary is a seasoned commercial real estate finance and investment manager with
substantial institutional experience in capital markets, financing, acquisitions, and
asset management across various asset classes during his prior roles at J.P.
Morgan, TIAA-CREF, American Realty Advisors, and PCCP.
Prior to joining Eyzenberg & Company, Gary was responsible for capital markets at
Intracorp Homes, originating and placing capital for Intracorp’s multi-family,
townhome, and condominium ground up development projects on the West Coast.
Gary received an MBA in Finance from NYU Stern School of Business, a BBA in
Finance from Pace University, and is a licensed real estate broker in California.
gmelman@eyzenberg.com
D: (305) 995-0777 ext.729
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