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119 Northwest 29th Street

Maxim Capital Group Provides $13.55M Refinance Loan To Property Markets Group And LNDMRK Development
FINANCEDDevelopment Site

Maxim Capital Group Provides $13.55M Refinance Loan To Property Markets Group And LNDMRK Development

119 Northwest 29th Street

$13,550,000

$280/SF

Building Size

48,300 SF

Asset Type

Development Site

Closing

Mar 21, 2025

AI

The asset involved in the transaction is a development site located at 119 Northwest 29th Street in Miami. The loan amount for this property is $13,550,000.00 and is classified as a refinance loan.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $13,550,000.00
  • Lender: Maxim Capital Group
  • Landlord: Property Markets Group and LNDMRK Development
  • Loan Type: Refinance
  • Transaction Date: 03/21/2025

The key individuals and companies involved in this transaction include Maxim Capital Group as the lender and Property Markets Group along with LNDMRK Development as the landlord of the property. This refinancing transaction illustrates the ongoing development activity within the Miami market.

Players

Adam Glick

Maxim Capital Group

Lender

$1B

vol

27 deals

Lender
Maxim Capital Group
Maxim Capital GroupLender
Andrew Warman

Andrew Warman

Property Markets Group

Landlord

$1.2B

vol

7 deals

Landlord

Miami Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.17%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93