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

Miami /
Dec.December 26, 2018 02:30 PM

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.


Related Articles

arrow_forward_ios
Jared Kushner and Ivanka Trump with Arte Surfside (Getty, Arte)
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Irving Langer and Fendi Château Residences (Getty, Google Maps)
Multifamily honcho sells Fendi Château penthouse in Surfside at a loss
Multifamily honcho sells Fendi Château penthouse in Surfside at a loss
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Alex Sapir and Arte by Antonio Citterio (Getty, Arte)
Developer Alex Sapir sells Arte penthouse for $33M
Developer Alex Sapir sells Arte penthouse for $33M
The Surf Club at 9001 Collins Ave. (Google Maps)
Apartment management firm pays $12M for second condo at Surf Club Four Seasons
Apartment management firm pays $12M for second condo at Surf Club Four Seasons
Alex Blavatnik with his Faena House unit (left) and new Fendi Château unit (Getty, Compass)
Alex Blavatnik sells Faena House unit, buys at Fendi Château
Alex Blavatnik sells Faena House unit, buys at Fendi Château
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...