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Maxim Capital Group Provides $3.75M Bridge Loan For Surfside Development Site

Property Image
FINANCED
$3,750,000
DB
Alejandro Bonet

Florida

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Development Site28,369 SF
Financed 08/25/2022
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Property Image
FINANCED

Maxim Capital Group Provides $3.75M Bridge Loan For Surfside Development Site

8800 Collins Avenue

See Similar Deals
Development Site28,369 SF
Financed 08/25/2022
DB
Alejandro Bonet
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$132
Total Square Footage:28,369 SF
Transaction Type:Loan

The loan involved a development site located at 8800 Collins Avenue in Surfside. The property is a development site with a building square footage of 28,369 and a buildable square footage of 60,000.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,750,000
  • Address: 8800 Collins Avenue
  • Market: Surfside
  • Building Square Footage: 28,369
  • Buildable Square Footage: 60,000

The lender for this loan was Maxim Capital Group, represented by Jason Bordenick and Adam Glick. The landlord for the property was Lineaire Group, represented by Diego Bonet and Alejandro Bonet.

Players

Alejandro Bonet
LD&D
Alejandro Bonet
2 deals$34.3M volume
BROKER
Maxim Capital Group
Maxim Capital Group
LENDER
DB
Diego Bonet
3 deals$44.3M volume
LANDLORD
DB
LD&D
Diego Bonet
3 deals$44.3M volume
LANDLORD
DB
Diego Bonet
3 deals$44.3M volume
LANDLORD
Alejandro Bonet
Alejandro Bonet
2 deals$34.3M volume
LANDLORD

Details

FINANCED
IMAGE: Jason Bordenick, Adam Glick, Alejandro Bonet & Diego Bonet DATE: 08/25/2022 ADDRESS: 8800 Collins Avenue MARKET: Surfside ASSET TYPE: Development Site ~ BSF: 60,000 ~ SF: 28,369 LENDER: Maxim Capital Group - Jason Bordenick & Adam Glick LANDLORD: Lineaire Group - Diego Bonet & Alejandro Bonet LOAN AMOUNT: $3,750,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,750,000.00

Monthly NOI$25,000.00
Monthly Debt Service$23,702.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00