Updated Oct 29, 2024
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
About this deal
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:
- Property Type: Development Site
- Transaction Amount: $9,150,000
- Lender: Maxim Capital - Jason Bordenick & Adam Glick
- Landlord:
- Brokers: Ronnie Levine, Ben Jacobs & AJ Bruno - Meridian Capital Group
Jason Bordenick and Adam Glick from Maxim Capital provided the loan for the acquisition of the development site at 520 West Broward. , represented by , 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
Plantation 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
1.73%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93