Brad Foss Of Summit Real Estate Group Secures $31.26M Loan For Development Site In Fort Lauderdale

The property involved is a development site located at 20421 Sheridan Street, Fort Lauderdale. The site spans 23.2 acres and has a building size of 280,000 square feet. A construction loan amounting to $31,260,000 was secured for the project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $31,260,000
• Lender: Central Trust Bank
• Landlord: Brad Foss - Summit Real Estate Group
• Asset Specifications: Approved for a distribution center with a 36-foot clear height and 180-foot truck court
• Site Acquisition Price: $20 million in 2023

Key individuals involved in the transaction include Brad Foss, representing Summit Real Estate Group as the landlord. Central Trust Bank served as the lender for the construction loan facilitating the development of a warehouse project in Pembroke Pines.