PMG Development And Landmark Development Secures $92.5M Construction Loan For Miami Development Site

The asset involved in this transaction is a development site located at 113 Northwest 11th Terrace in the Miami market. The loan amount secured for this property is $92,500,000, classified as a construction loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $92,500,000
• Lender: Adam Glick, Jason Bordenick & Billy Haber - Maxim Capital Group
• Developer: Kevin Maloney, Ryan Shear, Daniel Kaplan & Andrew Warman - PMG Development; Alex Karakhanian - Landmark Development; Michael Simkins - Lion Development Group

This transaction involves key figures in the real estate development sector, with a collaboration between multiple developers representing various groups. Together, they aim to enhance the property through significant development efforts backed by financial support from Maxim Capital Group.