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Mitra Maraj Of Champion Porsche Secures $52M Construction Loan From Wells Fargo For Dealership Expansion

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FINANCED
$52,000,000

Florida

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Development Site71,290 SF
Financed 02/21/2025
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Property Image
FINANCED

Mitra Maraj Of Champion Porsche Secures $52M Construction Loan From Wells Fargo For Dealership Expansion

300 West Copans Road

See Similar Deals
Development Site71,290 SF
Financed 02/21/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$729
Total Square Footage:71,290 SF
Transaction Type:Loan

The property involved is a development site located at 300 West Copans Road in Pompano Beach. The site encompasses 71,290 square feet and sits on 18 acres. Champion Porsche has secured a construction loan from Wells Fargo amounting to $52,000,000 for the project.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $52,000,000
  • Lender: Wells Fargo
  • Landlord: Mitra Maraj - Champion Porsche
  • Market: Pompano Beach
  • Asset Size: 71,290 SF
  • Acres: 18

The deal involves key participants including Mitra Maraj, who represents Champion Porsche, and the development is being executed by Stiles Construction. Notably, Copans Motors is overseeing the project, which includes a four-story parking deck and signifies an expansion for one of the largest Porsche dealerships in North America.

Players

Wells Fargo
Wells Fargo
LENDER

Details

FINANCED
IMAGE: Mitra Maraj DATE: 02/21/2025 ADDRESS: 300 West Copans Road MARKET: Pompano Beach ASSET TYPE: Development Site ~ SF: 71,290 ~ ACRES: 18 LENDER: Wells Fargo (@WellsFargo) LANDLORD: Mitra Maraj (@MMaraj) - Champion Porsche (@ChampionPorsche) LOAN AMOUNT: $52,000,000 LOAN TYPE: Construction NOTE: Champion Porsche broke ground on a 71,290 SF dealership expansion in Pompano Beach after securing a $52M construction loan from Wells Fargo. The project, developed by Copans Motors, includes a four-story parking deck and is being built by Stiles Construction. The company is one of the largest Porsche dealerships in North America.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$52,000,000.00

Monthly NOI$346,666.67
Monthly Debt Service$328,675.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00