Maxim Capital Group Provides $7.25 Million Acquisition Loan For Merritt Island Development Site
FINANCED
$7,250,000
Florida
See Similar DealsDevelopment Site657,756 SF
Financed 09/11/2024
FINANCED
Maxim Capital Group Provides $7.25 Million Acquisition Loan For Merritt Island Development Site
555 Fortenberry Road
See Similar DealsDevelopment Site657,756 SF
Financed 09/11/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$11
Total Square Footage:657,756 SF
Transaction Type:Loan
The property involved in this transaction is a development site located at 555 Fortenberry Road, Merritt Island, with a total square footage of 657,756. The loan amount for this acquisition is $7,250,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,250,000
- Lender: Jason Bordenick & Adam Glick - Maxim Capital Group
- Landlord: Ross Abramson - Woodfield Development
- Broker: Ben Jacobs - Ackman Ziff
The key individuals involved in this transaction include Jason Bordenick and Adam Glick representing the lending entity, while Ross Abramson acts as the landlord in the deal. Ben Jacobs is the broker facilitating the transaction, ensuring the process aligns with the parties' interests.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,250,000.00
Monthly NOI$48,333.33
Monthly Debt Service$45,824.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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