MAG Real Estate & Development Secures $61.5M Loan In Lake Worth And Pompano Beach Multifamily Deal

A loan of $61,500,000 has been secured for the purchase of properties located at 307 N J Street in Lake Worth and 1621 S Dixie Highway in Pompano Beach. The properties consist of a multifamily building and a development site, covering a total of 3.8 acres. The loan was provided by Madison Realty Capital, with Josh Zegen representing the lender.

Summary of transaction details

• Property Types: Multifamily building and development site
• Loan Amount: $61,500,000
• Address: 307 N J Street, Lake Worth & 1621 S Dixie Highway, Pompano Beach
• Market: Lake Worth & Pompano Beach
• Asset Types: Multifamily & Development Site
• Acres: 3.8

The loan was secured by MAG Real Estate & Development, who will serve as the landlords for the properties. The brokers involved in the deal are AJ Felberbaum, Jay Miller, and Spencer Miller from BayBridge Real Estate Capital.