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South Florida

Developer of 40-story waterfront project in Hollywood Beach seeks partner

The developers who got approval for a 40-story, 477-room waterfront hotel or condo-hotel in Hollywood Beach have tapped Ackman-Ziff to help find a joint-venture partner for the project.

Shefaor Development announced it wants an experienced, deep-pocketed partner to help complete the project, slated to be designed by Carlos Ott, at 4111 South Ocean Drive.

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“This is such a once-in-a-lifetime opportunity so we are seeking a partner who has intimate experience with luxury oceanfront hotel development to make sure that the opportunity is maximized and that the project is done right,” said Marc Schmulian, the executive director for Shefaor Development

The firm was founded by Jacques Claudio Stivelman and Gilbert Benhamou, and developed the Artech Resdiences and Uptown Marinal Lofts. It tapped the head of Ackman-Ziff’s Florida office, Robert Kaplan, to shop the opportunity. — Adam Fusfeld