Crescent Heights Secures $20 Million Pre-Development Loan From Maxim Capital Group In Edgewater
2950 Northeast 2nd Court
$20,000,000
Building Size
—
Asset Type
Retail
Closing
Oct 2, 2026
About this deal
AI
The property involved in this transaction is a piece of land located at 200 NE 30th Street in the Edgewater market. The transaction is categorized under pre-development with a loan amount of $20,000,000.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $20,000,000
- Lender: Jason Bordenick, Billy Haber & Adam Glick - Maxim Capital Group
- Borrower: Crescent Heights
- Brokers: Christopher Peck, Brian Gaswirth & Michael Romero - JLL
The key individuals involved in this transaction include lenders Jason Bordenick, Billy Haber, and Adam Glick from Maxim Capital Group, who facilitated the loan. The borrowing entity is Crescent Heights, while the brokerage services were provided by Christopher Peck, Brian Gaswirth, and Michael Romero from JLL.
On the Map
$20,000,000
Retail
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Players
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Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93