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
Pompano Beach 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93