PPG Development, BH3 Management Secure $225 Million Refinancing for Slate Residences in Hallandale Beach

J.P. Morgan & Monroe Capital provide financing for luxury residential tower

PPG Development and BH3 Management have secured a $225 million refinancing for Slate Hallandale Beach, a 250-unit luxury residential tower that was completed in 2022.  J.P. Morgan and Monroe Capital provided the financing. The loan will support the property’s continued evolution as one of the premier Residential Properties in South Florida.

The Site was purchased by PPG Development and Premium Capital Resources along with the adjacent property that is now known as Shell Bay Club, one of the top-rated country clubs in the world. Upon completion in 2022, BH3 Management acquired a 50% ownership interest in the property.

“Slate was designed to the highest standards with an incredible Amenity package, ensuring an unparalleled residential experience,” said Ari Pearl, founder and CEO of PPG Development. “This refinancing further validates our continued investment in Hallandale Beach which has become one of the greatest cities to live, work and play in South Florida.”

“BH3 Management acquired an ownership stake in Slate because we saw the potential for this tower to become the address of choice for residents seeking the highest quality luxury residences in Hallandale Beach, and that’s exactly what has transpired since,” said Daniel Lebensohn, co-founder and co-CEO of BH3. “Today, Slate is an impeccably managed asset which stands among the most desirable residential buildings in all of South Florida.”

Faisal Ashraf of Lotus Capital Partners arranged the financing on behalf of PPG and BH3 Management.

“We are pleased to lead a financing along with J.P. Morgan for great local sponsors PPG and BH3 on this transaction. Monroe continues to expand its real estate credit portfolio and capitalize on investments in the Sunbelt and South Florida market,” said Kyle Asher, Co-Head, Alternative Credit Solutions for Monroe Capital.

Slate offers one- to four-bedroom residences ranging in size from 859 to 3230 square feet. Each home features open-air floor plans, floor-to-ceiling glass windows and doors, and expansive terraces for seamless indoor/outdoor living. An exclusive collection of penthouses delivers breathtaking panoramic views of the Atlantic Ocean and Intracoastal Waterway.

The Kobi Karp-designed building boasts more than 30,000 square feet of thoughtfully curated amenities. Residents enjoy a state-of-the-art fitness center, spa lounge with sauna and steam rooms, resort-style pool with cabanas, outdoor fire pit, golf simulation room, movie screening room, wine cellar and lounge, and a business center.

Nestled between Miami and Fort Lauderdale, Hallandale Beach has become a highly desirable destination, offering proximity to Aventura Mall, Gulfstream Park, and some of South Florida’s best dining and entertainment.

About PPG Development 

PPG Development, with over two decades of experience, specializes in commercial and residential real estate development within the South Florida market. The accomplished team at PPG Development takes pride in its visionary approach, offering a diverse range of capabilities encompassing acquisitions, planning, development, management, operations, and financing. Their primary focus revolves around ground-up and value-added developments strategically situated in prime locations. 

Ari Pearl, the founder of PPG Development, has an extensive track record, having contributed to real estate and development projects exceeding $4 billion since 2001. Among the recent standout projects within the PPG portfolio are Shell Bay Club and Residences, Slate Hallandale Beach and The Altair Hotel. For further details about PPG Development, please visit their website at www.ppgdevelopment.com

About BH-3 Management

BH3 is a national vertically integrated real estate investment firm led by co-founders Daniel Lebensohn and Gregory Freedman, and Executive Chairman Eric Edidin, along with 30 additional professionals between its offices in South Florida, New York City, and Denver. BH3’s core strategies include: Real estate development and opportunistic equity investments, real estate debt Investments and growth equity investments in operating businesses in real estate, construction and adjacent sectors. The firm and its partners place a strong emphasis on value creation and making a positive impact on the communities where they invest. For more information, visit www.bh-3.com.

You May Also Like
Brickell Ranks as Second-Most Densely Populated Neighborhood 

The Brickell Avenue area shows strong real estate interest with more than 16,800 daily home views.

Read More
Forman Capital Provides $53.69 Million in Financing for New Hollywood, Florida Apartment Development

Phase one construction of Caltopia is expected to start during the fourth quarter of 2025

Read More
Curve Appeal: Ombelle Brings a Highly Desired Aesthetic to Downtown Fort Lauderdale

Downtown Fort Lauderdale has had a surge of high-rise residential developments, but one group of critics hasn’t always been happy. Members of the Fort Lauderdale City Commission have critiqued some

Read More
Other Posts
Discover The St. Regis Residences, Bahia Mar Fort Lauderdale

The property is listed for over $8.5 million.

Read More
Bahia Mar Fort Lauderdale
A Luxurious Waterfront Estate Awaits in Venetian Isles

The residence in the prestigious Lighthouse Point community is listed for $4.5 million.

Read More
Venetian Isles
Pier Sixty-Six Hits New Heights

The $1 billion first phase is complete.

Read More
A Perfect Merger

Real estate power couple Tristan and Tyler Tuchow’s personal and professional journey has led them to the top of their game.

Read More