Stewards Completes $90 Million Acquisition of Envy Pompano Beach, Expanding South Florida Real Assets Portfolio
Stewards, Inc. completed its $90 million acquisition of Envy Pompano Beach, a 214-unit Class A mixed-use multifamily property with a 26-slip marina in South Florida. The deal was funded with a $47.7 million LoanCore property loan (~53% of the purchase price) plus $42.7 million of rollover equity in the form of 14.2 million restricted shares valued at a $3.00 contractual share value. Shares outstanding rose from 211.4 million to approximately 225.6 million, though an escrow mechanism could cancel up to 7 million shares over seven monthly $3 million cash settlements beginning October 5, 2026.
Key figures
- Deal Value Usd
- 90000000
- Shares Offered
- 14200000
- Leased pct
- 93.0%
- Occupancy pct
- 89.3%
- Property loan
- 47700000
- Rollover equity
- 42700000
- Ttm property revenue
- 5300000
- Escrow cash settlement
- 21000000
- Shares outstanding pre
- 211400000
- Contractual share value
- 3
- Shares outstanding post
- 225600000
- Stabilization noi target
- 4200000
AI analysis
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