Greystone Finances $109M Refinance for Hollywood, FL Bread Building

A joint venture of BTI Partners and Bridge Investment Group has closed a $109 million agency loan to refinance the Bread Building, a 362-unit apartment property in Downtown Hollywood, Florida. Greystone originated the Freddie Mac-backed financing, and Cushman & Wakefield negotiated the debt. The sponsors bought the asset in 2021 for $11 million and converted the former headquarters of Hollywood Bread Company into apartments, finishing the work in 2025. Greystone structured the deal as a cash-out refinance under Freddie Mac's lease-up loan program, with full-term interest-only payments and a 35-year amortization schedule. The 25-story building reached full occupancy in September 2026, less than a year after conversion, and includes about 17,000 square feet of retail space and 478 parking spaces. Located at 1770 South Young Circle, the property sits just south of ArtsPark at Young Circle, a 10-acre green space. Executives from Greystone, Cushman & Wakefield and BTI cited strong demand for luxury rentals in South Florida. For developers and lenders, the deal shows that a fully leased conversion can support a cash-out refinance on agency terms soon after completion.