Fort Partners Gets $111M Construction Loan for Surfside Condos

Fort Partners is forging ahead with plans for another oceanfront condo development in Surfside.

The Fort Lauderdale-based firm, led by Nadim Ashi, secured a $110.7 million construction loan for Surf House, an 11-story, 17-unit building planned for 8995 Collins Avenue, property records show. Athene Annuity & Life Company, managed by its investment adviser Apollo Global Real Estate Management, is the lender.

An affiliate of Fort Partners paid $60 million for the property in April. Developer Jason Halpern sold the site, which is next to Four Seasons Hotel and Residences at the Surf Club. Fort Partners completed the latter in 2017.

Fort Partners Gets $111M Construction Loan for Surfside Condos — Rendering of Surf House (Kobi Karp)

The land sale included the 0.6-acre development site at 8995 Collins Avenue and a 0.2-acre parcel catty-corner at 9000 Collins Avenue, records show. Halpern’s JMH Development acquired an aging condo building on the oceanfront parcel and in 2016 terminated the association. The termination sparked a lawsuit, which he settled in 2020. The building was demolished last year.

Kobi Karp designed plans for the new project, called Surf House.

Fort Partners recently paid off a $36 million loan from Synovus Bank backed by the same site.

Fort Partners, which now owns all of the Four Seasons-branded hotels and residential developments in South Florida, set price records at the Surf Club Four Seasons in Surfside.

Immediately north of the Surf Club, Fort Partners recently completed Seaway at the Surf Club, a 34-unit, two-building development at 9149 Collins Avenue. It was built on the site of the former Seaway Villas condominium complex.

Fort Partners is also planning an 11-story, 14-unit condo at 9163-9165 Collins Avenue. Last year, the firm paid $41.5 million for the 1-acre assemblage.

In Miami’s Coconut Grove, Fort Partners is partnering with Ugo Colombo’s CMC Group on a boutique Four Seasons-branded condo building that the two firms are preselling.