Sourced and structured a non-recourse construction loan for a build-to-rent, 225-unit Build for Rent community located in Panama City, FL. Challenges The client is rapidly growing as they roll out patented, innovative designs and construction methods not yet seen in the SFR space. The client needed the ability to use a portion of the funds […]
Archives: Case Study
$8MM Land Acquisition | Panama City, FL
Eyzenberg & Company originated a $4.5MM predevelopment loan for the acquisition of land located in Panama City, Florida. Challenges The broader capital markets lack of enthusiasm for high levered land loans outside of primary markets was further muted by the ongoing Covid pandemic. The buyer was pressed to meet all closing conditions due to an […]
$45MM Build for Rent Recapitalization | Huntsville, AL
Eyzenberg & Company structured and placed permanent financing on this recently completed Build for Rent housing project. Financing included allocations for lease-up and stabilization to achieve full value. Challenges The capital markets have not yet fully adapted to underwriting single-family rentals as they have multifamily. Furthermore, permanent financing willing to accommodate vacancies during lease-up completion […]
$32MM Build for Rent Development | Panama City, FL
Eyzenberg & Company arranged construction financing for a new 79-unit Build for Rent community in Panama City Beach, FL. Challenges The developer is rapidly growing with an innovative, well-received concept. As they are continuously finding new ways to reduce expenditure, with costs for order fulfillment, raw materials, labor, and overhead in constant flux, there is […]
$53MM Hotel Recapitalization | Santa Rosa, CA
Eyzenberg GreenCap funded a C-PACE loan to recapitalize a 170-key luxury resort hotel midst renovation. Challenges Client was desired to bring in fresh low-cost capital, to pay for underway property improvements, instead of doing a capital call to existing investors.
$10MM Mortgage Recapitalization | NY, NJ & DE
Eyzenberg & Company structured and arranged a credit facility for a newly formed debt fund originating fix and flip loans to single family home investors. The purpose of the facility was to warehouse the notes on a line and provide additional liquidity and lending capacity to the fund. Challenges With a limited pool of capital […]
$5.6MM Land Acquisition | Pensacola, FL
Structured and arranged a high-leverage bridge loan to fund the land acquisition and predevelopment for a waterfront multi-family development in Pensacola, FL. Challenges Client had a purchase and sale agreement facing expiration within 30 days. Additionally, client was seeking 90% loan to cost with limited timeline for a formal due diligence period. Furthermore, heavy prior […]
$230MM Healthcare Recapitalization | LA
Eyzenberg & Company recapitalized a diversified $230MM healthcare portfolio by arranging an offshore, Sharia-compliant capital solution. Challenges Sourcing equity and structured capital for rural hospitals in a tertiary market proved to be a challenging endeavor for the Sponsor. Additional time constraints made it impossible to do a HUD execution.
$7MM Retail Recapitalization | Hollywood, FL
Eyzenberg & Company originated and placed a permanent loan to recapitalize an existing single tenant retail asset occupied by a restaurant tenant in Hollywood, Florida. Challenges The global pandemic had major negative implications for retail properties. Many lenders were shying away from single tenant retail due to its concentrated risk for potential vacancy and revenue loss.
$10.7MM Single Family Rental Recapitalization | TN
Eyzenberg & Company structured and arranged permanent financing for 65 single-family rental residences in Tennessee. Challenges The client had acquired 65 single family rentals with several equity partners and was seeking to roll up each portfolio into a single term loan. Due to the dynamic nature of the portfolio, with assets in various stages of acquisition, […]
$40MM Single Family Rental Acquisition | Multiple States
Eyzenberg & Company placed multiple credit lines for a single-family rental aggregation strategy across various states. Challenges The Sponsor had multiple portfolios across various partnerships in this venture and required one lender to provide debt facilities for all of them.
$34MM Multifamily Acquisition | Rochester, NY
Eyzenberg & Company structured and arranged preferred equity for 328-unit multifamily property in Rochester, NY. Challenges The acquisition included a challenging loan assumption with limited cash flow above the current debt service. The properties’ location in upstate New York made it less appealing to primary market-focused institutional capital providers.
$59MM Multifamily Development | Panama City, FL
Eyzenberg & Company structured a $4.5MM Co-GP contribution to develop a market-rate multifamily asset in Panama City, Florida. Challenges Recognizing the sponsorship’s need for balance sheet support, credit enhancement, and an impending loan maturity, Eyzenberg & Company advised the client on all aspects of the capital structure. Ultimately it was determined that a Co-GP partner, […]
$12MM Multifamily Recapitalization | Memphis, TN
Eyzenberg & Company structured and arranged bridge financing to recapitalize a 384-unit multi-family garden style apartment in Memphis, TN. Challenges The borrower utilized expensive capital to acquire the mostly vacant property during the COVID-19 pandemic. Though the business plan was not fully executed, the borrower was seeking to capitalize on an increased occupancy and a recovering. […]
$26MM Build for Rent | Myrtle Beach, SC
Structured and placed a first mortgage construction loan to build an 84-Unit Built for Rent Community Challenges The Sponsor planned to construct a second built-for-rent community within the limits of a golf course in SC. While most of the surrounding properties are short-term rentals and hotels, the sponsor felt comfortable expanding his portfolio given an […]
$94MM Condominium Development | St. Petersburg, FL
Eyzenberg & Company arranged construction financing for a new 88-unit condominium tower in downtown St. Petersburg, FL. Challenges The sponsor is a growing developer with extensive experience in the St. Petersburg market. With the project budget in a constant state of flux due to increasing construction prices from Covid, inflation, and geopolitical issues in […]
$19MM Multifamily Acquisition | Memphis, TN
Eyzenberg & Company structured and arranged bridge financing to acquire a 402-unit apartment complex in Memphis, Tennessee. Challenges Though the property enjoyed historically high occupancy revenue had not been optimized by the previous owner. The lending community questioned the feasibility of a high velocity value-add strategy with high in place tenancy.
$140MM Multifamily Development | Las Vegas, NV
Eyzenberg & Company arranged a highly structured acquisition, recapitalization and construction financing package for a three-phase multifamily development project in Las Vegas, NV. Challenges The Sponsor was seeking to terminate his original role as a participating junior lender on a three-phase multifamily development project in order to purchase and develop the second & third phases […]