GCF Development Secures $133 Million Refinance Loan for Hollywood Circle At 1776 Polk Street

GCF Development, a national real estate development firm led by Chip Abele and Peter Jago, has successfully secured a refinancing loan of $133.5 million for Hollywood Circle, a mixed-use project approximately 1 million square feet in size, designed by CFE Architects. Located at 1776 Polk Street in Hollywood, FL, the property was refinanced through Deutsche Bank USA. Jay Miller from BayBridge Real Estate Capital brokered the transaction.

Peter Jago, Managing Director at GCF Development, expressed enthusiasm about the partnership with Deutsche Bank for this significant loan. He noted, “As we transition into 2024, this significant achievement signifies further advancement in the successful reimagining of a highly prominent area in Hollywood.”

Hollywood Circle. Credit: GCF Development.

Hollywood Circle. Credit: GCF Development.

Hollywood Circle, a 25-story structure, is situated in the heart of Hollywood on Arts Park Circle at US1 and Hollywood Boulevard. It features a multitude of facilities, including Circ Residences, which offers 386 residential units; Circ By Sonder, a uniquely branded 111-room boutique hotel; a 48,000-square-foot Publix Supermarket, along with a 1,500-square-foot Publix Liquors; and over 4,700 square feet of additional neighborhood retail space. This ground-level space accommodates various shops, restaurants, and businesses, contributing to the vibrant community atmosphere.

Hollywood Circle. Credit: GCF Development.

Hollywood Circle. Credit: GCF Development.

Circ Residences boasts 360-degree panoramic views and an all-inclusive lifestyle. The newly constructed one-, two-, and three-bedroom apartment homes are designed with open-concept layouts. These homes feature chef-inspired kitchens with Cortez countertops, energy-efficient stainless steel appliances, and designer cabinetry with soft-close technology. The all-inclusive lifestyle at Circ Residences is further defined by an elevated level of service and a comprehensive amenity package. This includes a 24/7 concierge, valet parking, a resort-style pool deck with panoramic views of Hollywood Beach, and a state-of-the-art fitness and yoga center.

Construction on Hollywood Circle was completed in 2018. Stiles Construction was the general contractor, and JA&M Developing Corp was the shell contractor.

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