FundRebel has successfully secured $62 million in permanent financing for Nine Hollywood, a 204-unit multifamily property in Hollywood, Florida. The refinancing, arranged by Naftali Credit Partners, includes a $42 million senior loan and a $20 million subordinate loan. These funds will be utilized to support the property’s lease-up, ongoing unit improvements, and other operational expenses, marking Naftali Group’s inaugural loan in the South Florida market.
Key Takeaways
- Nine Hollywood, a 204-unit multifamily property, has secured $62 million in permanent financing.
- The financing was structured by Naftali Credit Partners, supporting lease-up and stabilization.
- The deal highlights strong investor confidence in the South Florida multifamily market.
Property Details and Occupancy
Completed in the past year, Nine Hollywood features a mix of studio, one-, and two-bedroom units, alongside 7,000 square feet of retail space. The residences, averaging 766 square feet, are currently renting for approximately $2,601 per month. The property boasts high occupancy rates for both residential and retail spaces, with a barbershop already in place and an Israeli restaurant concept by chef Meir Adony pending lease.
Each unit is equipped with high ceilings, in-unit washers and dryers, and digital locks. Common amenities include a fitness center, swimming pool, resident lounge, storage areas, and 260 parking spaces. FundRebel acquired the property last year for $62 million from Romagnole Investment Properties and specializes in multifamily investments.
South Florida’s Robust Multifamily Market
The Nine Hollywood financing represents the eighth transaction for Naftali’s second opportunistic debt fund. Glenn Grimaldi, CEO of Naftali Credit Partners, noted the South Florida multifamily market’s appeal, citing "sustained demand and institutional-quality development." Data from MMG indicates significant activity, with 7,330 units breaking ground in Miami in the first half of 2025, representing 80 percent of the total starts for all of 2024. The multifamily development pipeline in Miami currently stands at 12.4 percent of existing inventory.
Fort Lauderdale has also seen accelerated construction, with over 3,000 apartments starting construction in the first two quarters of 2025. This surge in development is attracting substantial capital, evidenced by recent large financing deals, including $460 million for apartment towers in Downtown Miami and $565 million for a luxury condo building in Brickell. The market has also attracted international developers, with Prosper Group forming a joint venture with Belgium’s Versluys Group for a waterfront residential tower.