Related Companies scores $140M refi for W Fort Lauderdale

Property went on the market earlier this year expecting $275M

TRD MIAMI /
Nov.November 13, 2018 02:15 PM

Stephen Ross and the W Fort Lauderdale

The Related Companies just completed a $140 million refinancing for the W Fort Lauderdale, a 346-room beachfront condo-hotel that it put on the market earlier this year.

KKR Real Estate Finance Trust provided the loan for the property at 401 North Fort Lauderdale Beach Boulevard. Records show it takes over a previous $110 million loan issued in 2014, and added $30 million.

In June, Related hired JLL to shop the beachfront project for $275 million. At that price, the project would sell for $795,000 per key. It still remains unsold.

Related bought the project from the Y Group for $90 million in 2009, and later completed a $55 million renovation of the property.

Last year, Related refinanced about 30 unsold condominium units at its Zaha Hadid-designed tower in New York. The $162 million loan was issued in August 2017 from the same New York-based lender, KKR Real Estate Finance Trust.


Related Articles

arrow_forward_ios
Rendering of the project, Victor G. Harvey, Sr. and Flo Rida

Flo Rida is building a vodka distillery in Fort Lauderdale Opportunity Zone

John Sasso and 1020 Northeast 7th Avenue (Credit: Google Maps)

Fort Lauderdale apartment portfolio sells for $10M

2001-2005 West Cypress Creek Road, Alex D. Zylberglait

Office complex near Fort Lauderdale airport sells for $7M

The property and Jonathan Salk (Credit: Google Maps)

Liberty Property Trust sells Fort Lauderdale industrial buildings

Jorge Perez and the development site

Related buys dev site in downtown Fort Lauderdale

Carlos Rodriguez Sr., Carlos Rodriguez Jr. and a rendering of Home 2/Tru by Hilton

Driftwood, Merrimac close first Opportunity Zone deal in Flagler Village

Stuart Lazier and the Wawa in Fort Lauderdale

Fort Lauderdale Wawa sells for $7M

Jorge Perez and New River Yacht Club III

Related Group nabs $48M loan for downtown Fort Lauderdale apartments

arrow_forward_ios
Loading...