Stretch Senior Loan Opportunity | Hollywood, Florida | Residential Development

January 6, 2019

The Carlton Group has been engaged as exclusive adviser to arrange financing for a mixed-use development consisting of multifamily, self storage and retail. The total development cost is approximately $49 million. Seeking a stretch senior construction loan of around $42 million for the project.

Property Highlights

  • The project will consist of 177 residential units of which 19 units will be set aside to be rented as corporate/fully furnished units.
  • The project would generate an approximately 6.5% yield on cost annually.
  • The sponsor currently owns the site and is shovel ready.
  • There is a $1.8 billion expansion of the Hard Rock Hotel and Casino an internationally known world class hotel, resort, casino and entertainment mecca located nearby.
  • The sponsor is a Hollywood, Florida based real estate development company who has built and managed in excess of 700 homes, 200,000 square feet of commercial space and over 1,000,000 square feet of mixed use space.

For more information, please contact:

Michael Campbell – CEO (212) 716-5611

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Stretch Senior Loan Opportunity | Hollywood, Florida | Residential Development