News April 11, 2022
Fort Partners pays off largest construction loan in Fort Lauderdale history
The Real Deal reported that Fort Partners paid off its $210 million construction loan for the Four Seasons Residences Fort Lauderdale, which is the largest such loan recorded in Fort Lauderdale’s history. Madison Realty Capital provided the financing in late 2019. Miami-based Fort Partners, led by CEO Nadim Ashi, and its minority partner Merrimac Ventures, secured the project’s temporary certificate of occupancy in February. The hotel component opened in March. The oceanfront development, with 83 condos and 148 hotel rooms, is 96 percent sold, and has an estimated $350 million sellout.