MIAMI—SC Property Acquisitions has landed a$290 million construction loan to develop Surf Club Four SeasonsPrivate Residences and Four Seasons Hotel in Surfside, FL. Themixed-use project includes 151 residential units, 77 hotel rooms,and luxury retail and restaurant space.
HFF managing director JimDockerty and senior real estate analyst ScottWadler helped SC Property, an entity controlled byFort Capital Management, secure the constructionloan. Blackstone Group's Debt Strategies Fundoffered the capital.
“With $1.2 billion of inventory and more than 60 percent of theresidences already sold, the project is on track to have thelargest sellout in the history of luxury residential real estatefor a project in South Florida,” says Dockerty. Fort is aprivately-owned real estate investment management company based inMiami.
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