Fort Partners Secures $105M for Four Seasons Hotel Miami
Madison Realty Capital provided the funding, which will be used for a renovation and repositioning plan.
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.
“Fort Partners, in close collaboration with Four Seasons, have put forth a strong plan that will modernize the property focused on enhancing room configurations, pool deck and lobby, and upgrade the food and beverage options by partnering with renowned chefs and restaurateurs,” said Josh Zegen, managing principal and co-founder of Madison Realty Capital in prepared remarks.
JLL Managing Director Jim Dockerty, Senior Managing Director, Kevin Davis, and Managing Director, Mark Fisher represented Fort Partners in the deal.