Eyzenberg & Co. Secures $21.3 Million Loan For Weiss Group of Companies Kobi Karp-Designed Towers at Blue Lagoon

Weiss Group of Companies has secured $21.3 million in bridge financing for the Kobi Karp-designed Towers at Blue Lagoon, which will replace a previous loan and fund predevelopment costs. Weiss Group has owned the 7-acre site located near Miami International Airport since the 1970s. In March 2019, their proposed rezoning to Miami city commissioners that would raise the development site’s maximum building height from eight stories to 12 stories was approved. Phase one of the mixed-use project will include a total of 829 multi-family units in two 184,000-square-foot buildings. Unit floor plans will include studio, one-, two-, and three- bedrooms. Future plans for the development include two 147-room hotels, parking spaces, affordable, market-rate and workforce housing, and improved roads and pedestrian walkways.

Weiss Group secured the loan from a Canadian private lender, according to the president of Eyzenberg & Co. Eyzenberg and Robert Ginsberg, managing director of Eyzenberg & Co., assisted in arranging the loan on behalf of Weiss Group.

By Isabella Zimmermann

Commercial Real Estate Investment Bank Eyzenberg & Company Opens First Miami Office

The New York City-headquartered commercial real estate investment bank Eyzenberg & Company has expanded into Florida, opening a new office in Miami. It is the third location for Eyzenberg & Company, led by NYC dealmaker David Eyzenberg, as the firm continues to grow its capital solutions platform. Eyzenberg & Company recently closed a $21.3 million bridge financing deal on behalf of the Weiss Group of Companies to build a mixed-use multifamily and hotel project at the Blue Lagoon office complex near Miami International Airport.

“Florida is already a prominent market for us, with many existing clients operating in the state. Formalizing our presence here allows us to deepen our commitment to delivering our full platform of capital solutions to our current clients and to grow new relationships from our on-the-ground operation,” said David Eyzenberg, president of Eyzenberg & Company. “I have been doing business in Florida for 20 years, commuting back and forth for the past seven. The Southeast is a hotbed of development and investment activity and the new office will help us be more efficient as we continue to develop our presence here, while leveraging our established capital relationships in New York and Washington.”

Joining Eyzenberg as a director is Ronald Granite, who will be originating structuring and placing debt, equity and ground lease capital for commercial real estate transactions across the U.S. as well as supervising transaction execution. In a relocation from Chicago, Granite brings 14+ years of experience in the commercial real estate industry, working in capital markets, portfolio management, asset management, leasing and finance.

Since its founding in 2016, Eyzenberg & Company has become one of the fastest-growing real estate capital advisory firms in the U.S. Affiliated entities include Eyzenberg Ground Lease Capital, an institutionally backed private equity vehicle specializing in the creation and acquisition of leased fee positions, and Eyzenberg Green Capital, a joint venture with leading C-PACE firm, Greenworks Lending, providing proprietary capital solutions for commercial real estate transactions.

Eyzenberg also serves as an Adjunct Professor of commercial real estate finance at NYU Schack Institute of Real Estate, who has also been hired by the University of Miami to teach commercial real estate finance in its business program.