The Real Deal Miami

Fort Partners lands $56M refi for Four Seasons Surf Club in Surfside

Financing is in addition to a $135M refi provided by same lender earlier this year for Four Seasons Palm Beach
By Amanda Rabines | December 26, 2018 02:30PM

Four Seasons Residences at the Surf Club and Nadim Ashi

Nadim Ashi’s Fort Partners just closed on a $56 million refinance for its Four Seasons Hotel and Residences at the Surf Club in Surfside, property records show.

Acore Capital provided the financing for the luxury condo-hotel development at 9001 Collins Avenue. Records show the loan extends the loan period up to 20 years. It is in addition to a previous $135 million loan Acore Capital provided earlier this year for Fort Partners’ Four Seasons Resort Palm Beach.

The developer completed the Surfside luxury beachfront development in March 2017 and began recording closings for the condo portion that month. The project includes a 72-room hotel, a Le Sirenuse restaurant and a Thomas Keller restaurant. Pritzker Prize-winning architect Richard Meier and Kobi Karp designed the Surfside project, restoring the original Henry Firestone Club.

Some high-profile residents at the condo towers include the former publisher of Esquire Alan Greenberg, the former CEO of Publix Charles Jenkins Jr., and New York real estate developer Richard Ruben. In September, an entity tied to Eric Lefkofsky, the founder of Groupon, paid $30.7 million for a penthouse at the Surf Club.

Ashi’s Fort Partners paid $116 million for the 9-acre site in 2012.