Glass House Boca Secures $70 Million Construction Loan From Maxim Capital Group For Development Site In Boca Raton
280 East Palmetto Park Road
$70,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 4, 2026
AI
The property involved in this transaction is a development site located at 280 East Palmetto Park Road in Boca Raton, FL. The loan amount secured for this construction project is $70,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $70,000,000
- Lender: Josh Greene & Adam Glick - Maxim Capital Group
- Landlord: Glass House Boca
- Landlord's Representative: Louis Halperin & Morris Betesh - Arrow Real Estate Advisors
- Loan Type: Construction
This transaction highlights the key players involved, with Josh Greene and Adam Glick representing Maxim Capital Group in the lending aspect. Glass House Boca is the landlord, with Louis Halperin and Morris Betesh from Arrow Real Estate Advisors acting as their representatives in the deal.
Players
Boca Raton 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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93