Deutsche Bank Provides $133.4M Refinance Loan For Hollywood Circle Property In Downtown Hollywood
1740 Polk Street
$133,400,000
Building Size
—
Asset Type
Mixed-use
Closing
Jan 11, 2024
About this deal
AI
The Hollywood Circle property in Downtown Hollywood, Florida has secured a refinancing loan from Deutsche Bank. The loan amount is $133,400,000. Led by Peter Diconza and Joe Schaecter from Deutsche Bank, the refinancing will provide financial stability for the 25-story mixed-use development.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $133,400,000
- Date: 01/11/2024
- Address: 1740 Polk Street
- Market: Hollywood
The Hollywood Circle property comprises of 386 apartments, the 111-room Circ Hotel, and a Publix supermarket. It is owned by Peter Jago and Chip Abele of Gold Coast Florida Regional Center. The financing arrangement was facilitated by Aj Felberbaum, Jay Miller, and Spencer Miller, representing BayBridge Real Estate Capital.
On the Map
$133,400,000
Mixed-use
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Players
Hollywood Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93