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8800 Collins Avenue

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

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

8800 Collins Avenue

$3,750,000

$132/SF

Building Size

28,369 SF

Asset Type

Development Site

Closing

Aug 25, 2022

AI

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

Broker

$34.3M

vol

2 deals

Broker
Maxim Capital Group
Maxim Capital GroupLender

Diego Bonet

Landlord

$44.3M

vol

3 deals

Landlord

Surfside Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.23%

Cash-on-Cash

-1.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93