News:
Brokerage
Posted: May 7, 2019
Outside the Region: Eyzenberg & Co. arranges $35.4 million refinancing for Southeast multifamily portfolio
Covington, GA Eyzenberg & Co.’s Jeff Conti and Mila Babenko structured and arranged a $35.4 million fixed-rate loan with Greystone to recapitalize three garden-style apartment communities in the Southeast that are undergoing improvements.
Acquired by a joint venture affiliate of Tampa-based Blue Magma Residential LLC and New York-based NCP Enterprise Funds (now Auerbach Funds’ Auerbach Opportunity Fund I, LP) in December 2017, the properties include the 188-unit The Park at Arlington (Covington); the 232-unit The Park at Brighton in Robinsonville, Miss.; and, the 184-unit The Park at Ashburn in Dothan, Ala.
“Eyzenberg & Co. devised a solution around ownership’s value-add repositioning strategy that met its need to repatriate capital and provide excess proceeds for renovation without having to go through a requisition process,” said David Eyzenberg, president of Eyzenberg & Co.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
.gif)
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
.gif)