Conrad Ft. Lauderdale Owner Procures $80M Financing

Heafey Group recently secured an $80 million refinancing deal from Ocean Bank for the Conrad Fort Lauderdale Beach condo-hotel. Heafey acquired the property in 2017 for $100 million. Eddie Diaz, T. George Harduvel & Lourdes Quiñones represented Ocean Bank in the deal.

The property, featuring 290 suites, condos, and condo-hotel units, underwent significant renovations supported by this loan. Notably, the newly opened Vitolo restaurant and Japanese eatery Takato. The refinancing serves to consolidate previous debts and manage ongoing improvement costs; a strategic financial move to enhance the property’s market competitiveness and profitability. 24-story.

On its website, Heafey states that although its commercial activities are diversified, specifically within the food and beverages and hospitality sectors, the main activities of the Heafey Group remain commercial, industrial, and residential real estate investment, development, and management.