Maxim Capital Supplies $40M Acquisition Loan for Queens Development Site

Excerpt from the Commercial Observer website: United Construction and Development Group has landed $40 million of acquisition financing to purchase a Rego Park, Queens, development site to build a mixed-use multifamily project, Commercial Observer has learned. Maxim Capital Group provided the loan for United’s acquisition of 93-30 93rd Street, which spans nearly 140,000 square feet […]

Miami developer pays $10 million for land in downtown Tampa’s Encore

Excerpt from Tampa Business Journal Website: A Miami developer is moving forward with plans to build a $200 million mixed-use project in downtown Tampa’s Encore district. LD&D said it has closed on 2 acres at 1101 E. Harrison St. for $10 million. The developer previously said it planned to build a 28-story, 365-unit luxury apartment […]

Merrimac and BH3 Take Ownership of Watson Island Site Off Downtown Miami

Excerpt from Commercial Observer Website: Watson Island, a prime publicly owned enclave between Downtown Miami and South Beach, may finally be getting a makeover. A joint venture between BH3 Management and Merrimac Ventures purchased the 75-year ground lease for a 10.8-acre parcel on the island from Flagstone Property Group. The pair declined to disclose the financial terms of the deal, […]

Maxim Capital, Beach Point Lend $55M on Three Phoenix Airport Hotels

Excerpt from Commercial Observer Website: Caliber Companies has snagged a big catch, just before Super Bowl LVII kicks off at nearby State Farm Stadium. Maxim Capital Group and Beach Point Capital Management have provided a $55 million bridge loan to the sponsor for three of its airport hotels in Phoenix, Commercial Observer has learned. Read […]

Chelsea Luxury Condos Land $35M Construction Financing

Excerpt from ConnectCRE Website: Cushman & Wakefield advised Fine Properties of New York in procuring $35,000,000 construction completion and condo-inventory financing for The Elisa, a 25-unit condominium property located at 251 W. 14th St. in Chelsea. The two-year loan with two six-month extension options was provided by Maxim Capital Group. Read the full article here: […]

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Kushner, Aimco sell piece of Fort Lauderdale assemblage

Excerpt from The Real Deal Website: Kushner Companies and Aimco sold a piece of their three-lot development assemblage near downtown Fort Lauderdale’s Brightline station. Woodfield Development paid $18.3 million for the 0.8-acre site at 520 West Broward Boulevard, with plans to build a 41-story multifamily tower, according to records. The buyer took out a $9.1 […]

Beach Point, Maxim Capital Lend $32M on Austin Hotel Acquisition

ASAP Holdings nabbed $32 million of acquisition financing to purchase and redevelop a 293-key hotel in Austin, Texas, Commercial Observer has learned. Beach Point Capital Management and Maxim Capital Group provided the acquisition and redevelopment loan for ASAP’s newly acquired Radisson Austin North. ASAP purchased the hotel from Lockwood Companies for $38.5 million. The property is five minutes from downtown Austin and […]

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Aimco completes $100M Flagler Village dev assemblage with latest $16M deal

Excerpt from The Real Deal website: Aimco added the final piece to its Flagler Village development site where the company plans a major mixed-use project. Denver-based Aimco bought 1.4 acres of land on the southwest corner of Northeast Ninth Street and Northeast Fifth Avenue in downtown Fort Lauderdale for $16 million, according to a deed. […]

Michael Shvo Taps Norman Foster for Miami Beach Office Project

Excerpt from the Commercial Observer website: Hot-shot residential broker-turned-developer Michael Shvo tapped star architect Norman Foster for his Alton Road project in Miami Beach. Earlier this month, Shvo, in partnership with Deutsche Finance America, paid $39.3 million for a five-property assemblage between Lincoln Road and 17th Street, according to the developer. The properties, at 1290 Lincoln Road, 1656 Alton Road to 1680 Alton Road, as […]

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Michael Stern’s JDS lands $86M loan for planned mixed-use Brickell high-rise

Excerpt from The Real Deal website: New York and Miami developer Michael Stern secured an $86 million loan for his planned mixed-use Brickell tower called 1 Southside Park. New York-based Maxim Capital Group provided the acquisition and construction financing to Stern’s JDS Development Group, according to a press release. The 64-story tower, between Southwest 11th […]