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520 West Broward

Woodfield Development Secures $9.15M Acquisition Loan For Fort Lauderdale Development Site
FINANCEDDevelopment Site

Woodfield Development Secures $9.15M Acquisition Loan For Fort Lauderdale Development Site

520 West Broward

$9,150,000

Building Size

Asset Type

Development Site

Closing

Dec 16, 2022

AI

The development site located at 520 West Broward in Fort Lauderdale, FL has been involved in a recent loan transaction. The loan, totaling $9,150,000, was provided by Maxim Capital and was used for the acquisition of the property.

Summary of transaction details:

Jason Bordenick and Adam Glick from Maxim Capital provided the loan for the acquisition of the development site at 520 West Broward. Woodfield Development, represented by Ross Abramson, is the landlord of the property. The brokers involved in the transaction were Ronnie Levine, Ben Jacobs, and AJ Bruno, all from Meridian Capital Group.

Players

Ben Jacobs

Meridian Capital Group

Broker

$571.4M

vol

17 deals

Broker
Maxim Capital Group
Maxim Capital GroupLender

Plantation 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

1.73%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93