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Deutsche Bank Provides $133.4M Refinance Loan For Hollywood Circle Property In Downtown Hollywood
FINANCED
$133,400,000
Florida
See Similar DealsMixed-use
Financed 01/11/2024
FINANCED
Deutsche Bank Provides $133.4M Refinance Loan For Hollywood Circle Property In Downtown Hollywood
1740 Polk Street
See Similar DealsMixed-use
Financed 01/11/2024
Summary
FLORIDA
Asset Type:Mixed-use
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$133,400,000.00
Monthly NOI$889,333.33
Monthly Debt Service$843,178.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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