NEW YORK, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Madison Realty Capital, a vertically integrated real estate private equity firm focused on real estate private credit, today announced that it has provided a $107.6 million loan to an affiliate of Fort Partners for the completion of Seaway North at The Surf Club, an ultra-luxury residential condominium project located adjacent to the Four Seasons Hotel and Residences at The Surf Club in the Surfside neighborhood of Miami. Construction of the property is currently underway and is expected to be completed in early 2026. To date, seven of the nine units are currently under contract.
Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital said, "Miami's Surfside is one of the most coveted neighborhoods in South Florida and home to some of the top beachfront property in the state. Seaway at the Surf Club will redefine the standard for luxury residences in the area and serve as a premier destination for years to come. Fort Partners is the exclusive developer of Four Seasons projects in South Florida, and we are pleased to work with them again to deliver a tailored financing solution for Seaway North at The Surf Club.”
Located at the northern end of the historic Surf Club at 9165 Collins Avenue, Seaway North will be managed by Four Seasons, offering best-in-class services and access to the neighboring Four Seasons Surfside. Upon completion, the 11-story, nine-unit property, will comprise seven full-floor units, a beach villa on the first two floors, and a 10th floor penthouse, designed by Joseph Dirand, each featuring sculpted ocean-view terraces. Residents will have access to a range of world-class amenities including four swimming pools, a private club, parking, storage lockers, and a restaurant by chef Thomas Keller.
This transaction marks the fourth between Madison Realty Capital and Fort Partners in Miami and across South Florida. Prior transactions include a $210 million loan for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale and a $105 million loan for the acquisition and modernization of the Four Seasons Hotel Miami.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated private equity firm focused on US-based commercial real estate private credit strategies. As of September 30, 2024, the firm, including its controlled affiliates (collectively, "Madison”), manages $22.2 billion in assets on behalf of a global institutional investor base. Since 2004, Madison has completed over $50.5 billion of securities and non-securities real estate transactions largely through direct lending to a wide range of borrowers, acquiring non-performing loans and making preferred equity investments. Madison Realty Capital seeks to deliver value across every phase of the property lifecycle by providing customized financing solutions and strong underwriting capabilities that meet borrowers' unique needs with speed and certainty of execution. To learn more, follow Madison Realty Capital on LinkedIn and visit www.madisonrealtycapital.com.
Media inquiries, contact:
Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
