Deutsche Bank Refis South Florida Resi Tower with $84M Loan
By Andrew Coen June 2, 2022 3:24 pm
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Gulf Coast Regional Center has sealed an $84 million debt package to refinance a luxury residential mixed-use tower in Hollywood, Fla., Commercial Observer has learned.
Deutsche Bank supplied the loan for the developer’s newly built apartment project called 1818 Park in a deal led by PJ DiConza and Joe Schaecter, sources told CO. The financing retires a $70 million construction loan from Trez Capital provided in February 2021.
BayBridge Real Estate Capital’s Jay Miller, Spencer Miller and AJ Felberbaum negotiated and structured the debt.
Located at 1818 Hollywood Boulevard, the 22-story, mixed-use development consists of 273 apartments with ground-floor retail space. Its amenities include two pool decks, two fitness centers, a yoga studio, coworking space and a gallery cafe.
Officials for Deutsche Bank and Gold Coast did not immediately respond for comment. BayBridge officials declined to comment.
This marks the second financing deal from Deutsche Bank on behalf of Gulf Coast for a Hollywood, Fla., multifamily property in less than seven months. The lender also supplied a $117.5 million loan to refinance the developer’s 25-story Hollywood Circle property last November.
Andrew Coen can be reached at acoen@commercialobserver.com.
