FundRebel has obtained $62 million in permanent financing for Nine Hollywood, a 204-unit-12 story multifamily property located at 1809 Jackson St. in Hollywood, Fla.

Naftali Credit Partners structured the funds for the borrower, which will support the lease-up and stabilization of the asset. The firm syndicated a $42 million senior loan, while retaining a $20 million subordinate loan associated with the property. Proceeds will refinance existing debt, subsidize unit improvements and pay other expenses at the property. The financing represents the New York City-based Naftali Group subsidiary’s first loan in South Florida.

Completed last year, Nine Hollywood offers a mix of studios, one- and two-bedroom units, in addition to 7,000 square feet of retail space. Residences average 766 square feet and currently rent for an average of $2,601 a month, according to Yardi Matrix data. The property is almost entirely occupied, including the retail space, which has been taken by a barbershop and is pending a lease with an Israeli restaurant concept by chef Meir Adony.

Units have high ceilings, washer/dryers and digital locks. Common-area amenities include a fitness center, pool, resident lounge and storage areas. There are 260 parking spaces.

FundRebel, which acquired the property last year for $62 million from Romagnole Investment Properties, is a REIT specializing in multifamily investments.

Strength in South Florida
The Nine Hollywood loan marks the eighth deal of Naftali’s second opportunistic debt fund, according to the company. Glenn Grimaldi, CEO of Naftali Credit Partners, said in a statement that the South Florida multifamily market exhibited a “combination of sustained demand and institutional-quality development.”

According to data from MMG, 7,330 units broke ground in Miami in the first half of 2025, which is 80 percent of the total starts seen in all of 2024. The multifamily development pipeline amounts to 12.4 percent of existing inventory, according to the firm’s latest market report.

In Fort Lauderdale, developers started construction on over 3,000 apartments during the first two quarters of 2025, MMG notes. That too is an acceleration from the same point in 2024.

Capital is flowing to support these projects. Earlier this month, Namdar obtained $460 million for the development of apartment towers in Downtown Miami that will add nearly 1,400 units to the market by 2028. Ytech also obtained $565 million in construction financing for a 70-story, 195-unit condo building in the city’s Brickell neighborhood.

In September, Newgard Group and Two Roads Development secured $513 million for the 784-unit One Brickell Riverfront, in what so far is the largest multifamily financing deal to take place in the market this year.

South Florida is also attracting first-time developers from other parts of the world. Last month, the locally-based Prosper Group formed a joint venture with Belgium’s Versluys Group to develop a 158-unit waterfront residential tower in Miami.