The Real Deal Miami

Nadim Ashi’s firm buys Four Seasons Palm Beach owner

Surf Club developer now has control of two South Florida hotels branded by resort
May 05, 2014 11:15AM

Four Seasons Palm Beach

Four Seasons Palm Beach

A company managed by real estate investor Nadim Ashi acquired a firm that owns the Four Seasons Resort Palm Beach.

In a private transaction not recorded by Palm Beach County, Ashi’s Fort Properties bought Four Seasons owner J.V. Associates. The purchase price is not known. J.V. owned the Palm Beach resort for 27 years.

Ashi is principal of Miami-based Fort Capital Management. He is leading the development of the Surf Club Hotel and Residences in Surfside. In January, Four Seasons agreed to brand and manage the 80-room hotel at the project.

The South Ocean Boulevard Four Seasons should not be impacted by the sale of J.V. Associates, according to the Palm Beach Daily News.

“With this transaction, the management team of the property remains the same, as does day-to-day operations and staffing,” hotel spokesperson Laurie Zuckerman said. [Palm Beach Daily News]Eric Kalis