Maxim Capital Group Provides $28.25M Loan For Miami Beach Development Site

A loan of $28,250,000 was secured for the acquisition of a development site located at 1656-1680 Alton Road & 1677 West Ave in Miami Beach. The site spans a total square footage of 60,000 and is owned by SHVO, represented by Michael Shvo. The loan was provided by Maxim Capital Group, with Adam Glick serving as the lender's representative. The brokers involved in the transaction were Aaron Appel and Michael Diaz, who represented Walker & Dunlop.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $28,250,000
• Address: 1656-1680 Alton Road & 1677 West Ave, Miami Beach
• Market: Miami Beach
• Asset Type: Development Site
• Lot Square Footage: 60,000

Adam Glick, the representative for Maxim Capital Group, played a key role in securing the loan for the acquisition. Meanwhile, Michael Shvo served as the representative for SHVO, the landlord of the property. The deal was facilitated by brokers Aaron Appel and Michael Diaz, who represented Walker & Dunlop.