GCF Development, a national real estate development, has successfully obtained a refinancing loan of $133.5 million for Hollywood Circle, its mixed-use project spanning approximately one million square feet. The refinancing was carried out through Deutsche Bank USA, and the transaction was facilitated by Jay Miller from BayBridge Real Estate Capital. GCF Development has developed over $6 billion of real estate led by Chip Abele and Peter Jago, who expressed satisfaction with the deal’s outcome.
“We are excited to partner once again with Deutsche Bank to close such a sizable loan,” says Jago, Managing Director at GCF Development. “As we transition into 2024, this significant achievement signifies further advancement in the successful reimagining of a highly prominent area in Hollywood.”
Located at U.S. 1 and Hollywood Boulevard, Hollywood Circle is a towering structure that spans 25 stories. It is known for its Circ Residences, which offer 386 residential units, a 111-room boutique hotel, a 48,000-square-foot Publix Supermarket, 1,500-square-foot Publix Liquors, a restaurant and rooftop bar, and 6,000 square feet of retail shops.
Photo Credit: Ginger Manteloeone