NEW YORK, June 2, 2022 – BayBridge Real Estate Capital today announced it helped Block 40 Property, LLC, structure an $84 million loan to refinance 1818 Park, a 22-story luxury rental apartment tower located on Young Circle in the heart of downtown Hollywood, Fla.
BayBridge secured the debt financing from Deutsche Bank to replace a $70 million construction loan that 1818 Park secured in 2021. The mixed-use development includes 273 apartments, ranging from studios to three-bedroom units; two pool decks and fitness centers; coworking space; private conference rooms; and 10,000 square feet of ground-floor retail space.
About BayBridge Real Estate Capital
A specialty firm focusing on responsive execution and creative financing, BayBridge Real Estate Capital helps developers and investors source funding for a broad range of commercial real estate projects. With an emphasis on structured finance, the team brings decades of experience to markets across the country from its offices in New York, Miami, Fort Lauderdale, Boca Raton and West Palm Beach, Fla. For more information, visit www.baybridgerec.com or call (646) 213-7561.