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11290 Legacy Avenue

Adam Ifshin And Bhatia Kamal Landlord Secures $114 Million Loan For Retail Asset In Palm Beach Gardens
FINANCEDRetail

Adam Ifshin And Bhatia Kamal Landlord Secures $114 Million Loan For Retail Asset In Palm Beach Gardens

11290 Legacy Avenue

$114,000,000

$271/SF

Building Size

420,000 SF

Asset Type

Retail

Closing

May 5, 2026

AI

The asset involved in this transaction is a retail property located at 11290 Legacy Avenue, Palm Beach Gardens, FL. It encompasses a total of 420,000 square feet and is associated with a loan amount of $114,000,000, designated for acquisition purposes.

Summary of transaction details:

This transaction involves key individuals including lender Charles Scharf, alongside landlords Adam Ifshin and Bhatia Kamal, who manage the property. The representation for the landlords in this deal is provided by the team from Newmark, comprising Jordan Roeschlaub, Nick Scribani, John Caraviello, Dan Axelson, and Stavros Giannakopoulos.

Players

Nick Scribani

Newmark

Broker

$55.4B

vol

195 deals

Broker

Adam Ifshin

Landlord

$1.8B

vol

8 deals

Landlord

Palm Beach Gardens Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93