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.
On the Map
$9,150,000
Development Site
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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