Stewards Inks $79M Refi of Hollywood Rental Asset
Stewards Inc. completed a $79 million refinancing of 1818 Park, its luxury multifamily residential community in downtown Hollywood, Florida. Multihousing News reports Stewards acquired 1818 Park last August for $190 million.
1818 Park is a 22-story luxury residential community offering studio, one-, two- and three-bedroom residences complemented by resort-style amenities, including coworking space, fitness facilities, resort-style pools and ground-floor retail. The property is currently approximately 94% occupied and benefits from its location in downtown Hollywood.
The refinancing was completed with senior financing provided by Värde Partners and mezzanine financing provided by CCL Capital. The transaction was arranged by BayBridge Real Estate Capital, with Jay Miller, Spencer Miller, AJ Felberbaum and Noah Rothman leading the placement effort on behalf of the Company.
On its website, Stewards touts that its integrated model combines technology-enabled small business finance, income-producing real estate, and emerging digital infrastructure, creating a diversified foundation for performance, stability, and scale.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout