Financing supports Fundrebel’s newly completed apartment complex in downtown Hollywood
Naftali Credit Partners has officially expanded its lending footprint into South Florida, marking its first deal in the region with a loan for a newly developed multifamily community in downtown Hollywood, Florida.
The firm has provided $62 million in financing for Nine Hollywood, a recently completed 12-story, 204-unit apartment building located at 1809 Jackson Street and owned by Fundrebel.
According to Naftali Credit Partners, the financing package includes a $42 million syndicated senior loan and a $20 million subordinate loan. The funds will be used to pay off existing debt, as well as cover tenant improvements, leasing costs, and interest reserves.
Monthly rents at Nine Hollywood range from $1,835 for studios to $3,181 for two-bedroom units, while comparable properties in the neighborhood typically ask between $1,912 and $2,735, based on CoStar analytics.
A Strategic Push Into a High-Demand Market
“We’re expanding into markets where fundamentals remain exceptionally strong, and South Florida’s combination of sustained demand and institutional-quality development aligns perfectly with our investment strategy,” said Glenn Grimaldi, CEO of Naftali Credit Partners.
Naftali Credit Partners operates as the lending division of Naftali Group, a New York–based global development and investment firm led by CEO and Chairman Miki Naftali.
Although Naftali has personally lived in South Florida for years, the company only launched its first development in downtown Miami in 2024 with JEM Private Residences.
“With our second fund nearly fully deployed and preparations underway to launch a $1 billion third fund later this year, we remain focused on supporting projects backed by strong sponsorship in durable markets,” Grimaldi added. He emphasized that the company intends to continue financing developments that enhance “high-quality real estate across key U.S. markets.”
About the Borrower
The borrower, Fundrebel, is a real estate investment and development firm led by Mark Drachman and Allen Konstam. CoStar data shows that Fundrebel acquired Nine Hollywood in March, when the property was still under construction.
Nine Hollywood: Amenities & Location
Residents of Nine Hollywood have access to:
- A fitness center
- A resort-style pool
- A resident lounge
- Additional storage areas
The building is also within walking distance of Young Circle Park, a 10-acre public space that serves as a focal point for downtown Hollywood. The surrounding district offers numerous retail and dining options, and Interstate 95 is only 1.5 miles away, providing convenient regional access.
Source: Original reporting by Joshua S. Andino, CoStar News.
