Miami-based development firm Fort Partners has secured a $210 million construction loan for the Four Seasons Hotel and Private Residences Fort Lauderdale.
Financed by Madison Realty Capital, the $210 million loan is believed to be the largest for a residential construction project in the history of Fort Lauderdale. Construction is already underway at the project, and occupancy is scheduled for 2021. The 22-story hotel and condominium development will include 148 guest rooms and 83 residences ranging in size from one to four-bedrooms. Planned amenities at the community include a fitness center, two pools with luxury cabanas, beach butler service, a signature Four Seasons spa and yachting services.
“Four Seasons Hotel and Private Residences Fort Lauderdale is making incredible strides to redefine Fort Lauderdale as an international destination, and we are extremely pleased to have closed on this important transaction with a highly regarded investment partner,” said Nadim Ashi, founder of Fort Partners. “This construction loan reaffirms our confidence in this luxury development, as well as our extraordinary teams’ ability to create the most sought-after residential and hospitality experience in Fort Lauderdale.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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