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311 Briny Avenue, Pompano B...

Adam Glick, Jason Bordenick, John Farina, Dustin Salzano & Jason Krane Acquire Development Site In Pompano Beach With $6M Loan From Maxim Capital Group
FINANCEDDevelopment Site

Adam Glick, Jason Bordenick, John Farina, Dustin Salzano & Jason Krane Acquire Development Site In Pompano Beach With $6M Loan From Maxim Capital Group

311 Briny Avenue, Pompano Beach, Florida 33062, United States

$6,000,000

$103/SF

Building Size

58,141 SF

Asset Type

Development Site

Closing

May 24, 2022

AI

A development site located at 311 Briny Ave in Pompano Beach has been involved in a recent closed transaction. The property spans an impressive 58,141 square feet and is categorized as a Development Site.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $6,000,000
  • Date: 05/25/2022
  • Address: 311 Briny Ave
  • Market: Pompano Beach
  • Lender: Maxim Capital Group - Jason Bordenick & Adam Glick
  • Landlord: U.S. Construction - John Farina & Dustin Salzano
  • Broker: Jason Krane - Ackman Ziff
  • Loan Type: Acquisition

The individuals and companies involved in this transaction play significant roles in its completion. Maxim Capital Group, represented by Jason Bordenick and Adam Glick, served as the lender for the acquisition loan of $6,000,000. On the landlord side, U.S. Construction, led by John Farina and Dustin Salzano, facilitated the deal. Jason Krane, from Ackman Ziff, served as the broker in this transaction.

Players

Jason Krane

Ackman-Ziff

Broker

$893.5M

vol

9 deals

Broker
Maxim Capital Group
Maxim Capital GroupLender

John Farina

U.S. Construction

Landlord

$56.2M

vol

3 deals

Landlord

Pompano Beach Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93