Fort Partners has secured a $105 million loan that will be used for the acquisition and modernization of the Four Seasons Hotel Miami, located at 1435 Brickell Ave. Madison Realty Capital provided the financing under a program that offers transitional loans to institutional sponsors. In 2019, Madison provided a $210 million loan to Fort Partners for its construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.
The 221-key hotel is part of a 70-story mixed-use tower that includes office space, residential condominiums, an Equinox health club, retail space and a parking garage. Millennium Partners developed the property in 2003 and Handel Architects led the design. The acquisition marks the fourth Four Seasons property in Fort Partners' Florida portfolio alongside hotels located in Surfside, Fort Lauderdale, and Palm Beach.
Michael Conaghan, partner with Fort Partners, noted that Madison offered a highly competitive rate with a flexible structure.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
