A Lauderhill-based financial firm landed a $79 million refinancing for a luxury apartment tower in downtown Hollywood.
Stewards Inc. secured the new debt for 1818 Park, a 22-story, 500,000-square-foot apartment building at 1818 Hollywood Boulevard that’s 94 percent leased. The financing, which replaces existing debt, includes a senior loan from Värde Partners and mezzanine financing from CCL Capital. BayBridge Real Estate Capital arranged the deal, led by Jay Miller, Spencer Miller, AJ Felberbaum and Noah Rothman.
Completed in 2023, 1818 Park has studio, one-, two- and three-bedroom apartments, as well as coworking space, fitness facilities, pools and ground-floor retail.
Stewards affiliate FAVO Capital Inc. paid $190 million for the property in 2025 from the building’s developer Charles “Chip” Abele’s Gold Coast Florida Development in an all-stock deal, but GCF stayed on as a long-term equity partner.
Abele’s GCF Development sold the project for $65.6 million in 2022 to a related entity. The acquisition was tied to an $84 million Deutsche Bank refinancing, part of which paid off a $70 million construction loan from Trez Capital.
Abele also developed Hollywood Circle, the mixed-use project financed in part through the EB-5 immigrant investor program. It includes the 25-story, 389-unit Circ Residences tower, the 111-key Circ Hotel, a 941-space parking garage, a 47,000-square-foot Publix and retail space.
In May, lenders hit the hotel, retail and unsold portions of the project with a $121 million foreclosure lawsuit. The case excludes the 32 Circ Residences units sold after Abele converted the apartment tower into condominiums in early 2024, with prices ranging from $450,000 to $1.3 million. The foreclosure case remains pending.
Stewards, led by president and CEO Shaun Quin, provides financing to small and midsize U.S. businesses through its private credit, real estate and digital finance platforms.
Earlier this month, the company filed plans to relocate its headquarters from Lauderhill to Plantation, proposing renovations to a 3-acre campus at 4350 Northwest Eighth Court that it purchased this year for $5.8 million.
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Charles “Chip” Abele sells Hollywood mixed-use project for $66M tied to $84M refi
EB-5 funded project in downtown Hollywood scores $125M loan
Hollywood Circle, largely funded by Chinese EB-5 investors, scores $60M loan
