Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOLLYWOOD, FL-BH III LLC, a private equity group, paid $308 per square foot for the Related Group’s construction loan on the last of the unsold developer units in the Hollywood/Hallandale Beach submarket, according to a report from Condo Vultures. Specifically, the group paid $160 million for the balance of a $226.6 million loan at the 200-unit Trump Hollywood.

“This is a milestone for South Florida’s overbuilt condo market,” says Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures. “The Hollywood/Hallandale Beach area has earned the distinction of being the first South Florida market to sell out of more than 99% of the total condo inventory built during the boom years.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.