FAVO Capital acquired 1818 Park, a mixed-use tower in Hollywood, for $190 million.

The acquisition comprised an all-stock and assumption-of-liabilities transaction with 1818 Park’s owners, who are led by real estate investment firm GCF Development and will become long-term equity partners in FAVO.

1818 Park features luxury apartments, as well as retail and office spaces. Community amenities include pools, water features, coworking space and complimentary bicycles.

FAVO’s acquisition comes amid efforts by the Lauderhill-based company to diversify its portfolio of income-generating real estate.

“This acquisition is a natural extension of our vision to build a resilient, diversified investment and global brand strategy,” FAVO Capital Chief Strategy Officer Glen Steward said in a press release. “By combining the predictable cash flows of high-quality real estate with the dynamic growth of our private credit business, we are creating a balanced portfolio designed to perform across market cycles.”