Updated Mar 26, 2025
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
About this deal
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.
On the Map
$13,550,000
$280/SF
Development Site
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Players
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