Maxim Capital Group Provides $5.7M Acquisition Loan For Palm Beach Multifamily
FINANCED
$5,700,000
Florida
See Similar DealsMultiFamily34,800 SF
Financed 03/02/2022
FINANCED
Maxim Capital Group Provides $5.7M Acquisition Loan For Palm Beach Multifamily
3031 South Ocean Boulevard, Palm Beach, Florida 33480, United States
See Similar DealsMultiFamily34,800 SF
Financed 03/02/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$163
Total Square Footage:34,800 SF
Transaction Type:Loan
An acquisition loan has been secured for a multifamily property located at 3031 S Ocean Blvd in Palm Beach. The property consists of 29 units with a total square footage of 34,800. The loan, provided by Maxim Capital Group, amounts to $5,700,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,700,000
- Address: 3031 S Ocean Blvd
- Market: Palm Beach
- Units: 29
- Lender: Maxim Capital Group
- Lender Representatives: Jason Bordenick & Adam Glick
- Brokers: Ronnie Levine & Thomas Wayda - Meridian Capital Group
Ronnie Levine and Thomas Wayda of Meridian Capital Group represented the buyer or seller in this transaction, acting as brokers. They worked alongside Jason Bordenick and Adam Glick from Maxim Capital Group, who served as the lender representatives.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,700,000.00
Monthly NOI$38,000.00
Monthly Debt Service$36,027.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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