Real Estate
Home›Real Estate›Residential›Stewards completes $79M refinancing for downtown Holly…
Stewards completes $79M refinancing for downtown Hollywood multifamily
The deal closes with senior financing from Värde Partners and mezzanine financing from CCL Capital, and the property is about 94% occupied.
Stewards Inc. has completed a $79 million refinancing for 1818 Park, a luxury multifamily residential community in downtown Hollywood, Florida, according to ConnectCRE. The 22-story property offers studio through three-bedroom residences and includes amenities such as coworking space, fitness facilities, resort-style pools, and ground-floor retail.
ConnectCRE says 1818 Park was acquired by Stewards last August for $190 million, and the asset is currently approximately 94% occupied. The downtown location is cited as a key factor supporting the property’s performance.
The refinancing includes senior financing provided by Värde Partners and mezzanine financing provided by CCL Capital. BayBridge Real Estate Capital arranged the transaction, with Jay Miller, Spencer Miller, AJ Felberbaum, and Noah Rothman leading the placement effort for the company.