SF Capital Group's Matt Shane was recently featured in Commercial Observer for Securing $35M C-PACE Loan for 21 Hollywood Project in Hollywood, FL
SF Capital Group’s Matt Shane has been featured in a recent article by Andrew Coen of Commercial Observer for SF Capital’s role in arranging a $35 million Commercial Property Assessment Clean Energy (C-PACE) construction loan for Starlife Group's 21 Hollywood project in Hollywood, Florida.
Project Overview:
Location: 2100 N. Federal Highway, Hollywood, FL
Units: 200
Completion Date: February 2027
Amenities: Infinity pool, fitness center, outdoor kitchens, coworking space, dog park, and 9,997 square feet of ground-floor retail
Architect: Kobi Karp Architecture
The fixed-rate C-PACE loan, originated by Peachtree Group, will support the development's energy efficiency, envelope enhancements, and hurricane resiliency measures. Jared Schlosser, Senior Vice President at Peachtree Group, emphasized the benefits of this long-term, non-recourse loan structure, which covers 40% of the project cost, with Starlife Group contributing 60% equity. This approach provides a more accretive alternative compared to traditional low-leverage bank loans, offering a straightforward annual payment plan that simplifies navigation for the borrower.
SF Capital’s Matt Shane played a crucial role in arranging this transaction, ensuring that the financing aligns with the project's sustainability and resilience goals. The significant equity brought into the project facilitated the deal, making it an attractive option for both the developer and the lender.
The 21 Hollywood project broke ground late last year and is set to transform the Hollywood area with its modern design and comprehensive amenities. The development is strategically located across from South Broward High School, on a 1.48-acre site acquired by Starlife Group for $6.5 million in 2023.
Read the full Commercial Observer Article (Subscription required)
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