**PPG Development and BH3 Management Secure $225M Refinancing for Slate Hallandale Beach**
PPG Development and BH3 Management have secured a $225 million refinancing deal for Slate Hallandale Beach, a 250-unit luxury residential tower completed in 2022. The financing was provided by J.P. Morgan and Monroe Capital.
PPG Development, in partnership with Premium Capital Resources, originally acquired the site and its adjacent property, now known as Shell Bay Club. Upon the project’s completion in 2022, BH3 Management purchased a 50% ownership stake in the property. The refinancing arrangement was facilitated by Faisal Ashraf of Lotus Capital Partners on behalf of PPG and BH3 Management.
Slate Hallandale Beach offers a range of one- to four-bedroom residences, with sizes ranging from 859 to 3,230 square feet, all featuring terraces for an indoor-outdoor living experience. A collection of penthouses provides residents with breathtaking views of the Atlantic Ocean and the Intracoastal Waterway.
Designed by renowned architect Kobi Karp, the luxury tower includes more than 30,000 square feet of premium amenities. Residents enjoy access to a state-of-the-art fitness center, spa lounge with sauna and steam rooms, a pool with private cabanas, an outdoor fire pit, a golf simulation room, a movie screening room, a wine cellar and lounge, and a fully equipped business center.
