Stewards, Inc. has completed the acquisition of the Envy Pompano Beach real estate project in Florida. The transaction, valued at an aggregate contractual price of $90.0 million, was executed on September 23, 2026, following the signing of a Membership Interests Purchase and Sale Agreement on September 21, 2026.
The consideration for the deal included a cash payment for the Company’s acquisition deposit, the refinancing of $44,557,435.93 in existing indebtedness, and the issuance of 14,263,025 shares of Stewards common stock valued at $3.00 per share. Additionally, the Company issued a $2.0 million unsecured promissory note. Of the shares issued, 13,788,066 went to Envy Development PB, LLC and 474,959 went to The Myelin Group, LLC.
To secure the transaction, 7,000,000 shares with a contractual value of $21.0 million were placed in escrow with ClearTrust, LLC. The Company is required to make monthly cash payments of $3.0 million to the sellers, with 1,000,000 escrowed shares cancelled concurrently with each payment. The Company is also obligated to pay daily liquidated damages for late payments, which increase to $2,000 per day after the first month. The sellers have the right to record a vendee’s lien against the property if obligations remain unpaid.
Stewards International Funds PCC, on behalf of the Stewards Private Credit Fund, has guaranteed the Company’s redemption-payment obligations and late-payment damages. The acquisition was financed in part through a $47.7 million mortgage loan from LoanCore Capital Credit REIT LLC, which refinanced existing debt and funded transaction costs. The loan matures on October 9, 2028, with an option to extend to October 9, 2029.
The acquired property, located at 425-475 East Atlantic Boulevard in Pompano Beach, encompasses approximately 1.61 acres. It consists of 214 residential apartments across two 11-story buildings completed in 2020, approximately 5,575 square feet of ground-floor commercial space, a marina with 26 boat slips, and a three-story commercial community center.
