PPG Development and BH3 Management have announced the successful refinancing of Slate Hallandale Beach, a 26-story luxury residential tower completed in 2022. J.P. Morgan and Monroe Capital provided the $225 million loan, which supports the continued stabilization and operation of the 250-unit property. Faisal Ashraf of Lotus Capital Partners arranged the financing.
Located between Miami and Fort Lauderdale, Slate has become a notable fixture in the Hallandale Beach residential market. PPG Development and Premium Capital Resources originally acquired the property, along with the adjacent parcel, which is now home to Shell Bay Club. In 2022, BH3 Management acquired a 50 percent ownership interest in Slate.
“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.”
“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,” added Daniel Lebensohn, co-founder and co-CEO of BH3 Management.
Designed by Kobi Karp Architecture & Interior Design, the tower comprises one- to four-bedroom residences ranging from 859 to 3,230 square feet, including penthouses with panoramic views of the Atlantic Ocean and Intracoastal Waterway. Each home features floor-to-ceiling glass, open-air layouts, and expansive terraces.
The building includes over 30,000 square feet of amenities, including a resort-style pool with cabanas, spa lounge with sauna and steam rooms, fitness center, golf simulator, movie screening room, wine cellar and lounge, outdoor fire pit, and a business center.
Slate Hallandale Beach is close to Aventura Mall, Gulfstream Park, and major transportation corridors, offering residents easy access to some of South Florida’s premier shopping, dining, and entertainment destinations.
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