Woodfield Development Secures $9.15M Acquisition Loan For Fort Lauderdale Development Site
FINANCED
$9,150,000
Florida
See Similar DealsDevelopment Site
Financed 12/16/2022
FINANCED
Woodfield Development Secures $9.15M Acquisition Loan For Fort Lauderdale Development Site
520 West Broward
See Similar DealsDevelopment Site
Financed 12/16/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
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: Woodfield Development – Ross Abramson
- 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. 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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,150,000.00
Monthly NOI$61,000.00
Monthly Debt Service$57,834.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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