Greystone Refis Hollywood, Fla., Apartments With $109M Loan 

A joint venture between bti partners and Bridge Investment Group has secured a $109 million of agency debt to refinance a multifamily asset in Hollywood, Fla., Commercial Observer can first report.

Greystone supplied the Freddie Mac-backed loan for the sponsorship’s 362-unit Bread Building property in Downtown Hollywood. BTI and Bridge acquired the property in 2021 for $11 million and redeveloped the former office building —  which was once the headquarters for Hollywood Bread Company — into apartments. The conversion project was completed in 2025.

“Utilizing Freddie Mac’s Lease-Up Loan program, we were able to provide the borrower with a cash-out refinance, full-term interest only, and 35-year amortization,” Richard Kourbage, senior managing director at Greystone, said in a statement. “The Bread Building’s successful lease-up and strong market fundamentals made it an excellent candidate for this financing.”

The 25-story property reached full occupancy in September 2026, less than a year after conversion work was completed. The complex features roughly 17,000 square feet of retail space and 478 parking spaces. 

Cushman & Wakefield negotiated the debt with an equity, debt & structured finance team of Chris Moyer and Chris Lentz.

“The Bread Building represented a compelling lending opportunity in one of South Florida’s most dynamic residential markets,” Moyer, executive managing director at Cushman & Wakefield, said in a statement. “The property’s prime location in the heart of Downtown Hollywood, proximity to major employment centers, and high-quality residential offerings allowed us to capitalize on the continued demand for luxury multifamily housing in South Florida.”

Located at 1770 South Young Circle between Miami and Fort Lauderdale, the Bread Building is just south of ArtsPark at Young Circle, a 10-acre recreational green space. The property’s resident amenities include a swimming pool with cabanas, a sun deck, an outdoor kitchen and a fitness center

“Downtown Hollywood continues to evolve into one of South Florida’s most vibrant urban destinations, and the Bread Building is an important part of that transformation,” Jacob Breakstone, manager, urban development at BTI, said in a statement. “The property’s successful lease-up reflects the growing demand for high-quality residential living in Hollywood.”

Andrew Coen can be reached at acoen@commercialobserver.com.