Fort Partners Secures $107.6M Loan for Seaway North, a Luxury Oceanfront Condo in Surfside

Fort Partners, the Fort Lauderdale-based development firm led by Nadim Ashi, has secured $107.6 million in construction financing from Madison Realty Capital for Seaway North, an 11-story, nine-unit luxury condominium project. The oceanfront development, located at 9165 Collins Avenue in Surfside, is being built on the former Hillcrest by the Sea site.

Construction on Seaway North is underway, with completion expected in early 2026. The building will feature full-floor units, a beach villa spanning the first two floors, and exclusive access to The Surf Club’s amenities, including four pools, private club services, parking, and restaurants. Seven of the nine units, accounting for 78% of the project, are already under contract. Four Seasons will manage the units.

The project is part of Fort Partners’ broader investment in Surfside’s Collins Avenue corridor, which began with the Four Seasons Hotel and Residences at The Surf Club, completed in 2017. In 2023, a Fort Partners affiliate acquired the 1-acre Seaway North site for $41.5 million.

Seaway North sits adjacent to the recently completed Seaway at the Surf Club at 9149 Collins Avenue, where closings began in October. Notable sales in the neighboring project include a $31.1 million unit purchased by healthcare mogul Frederick Howe and a $14.6 million unit bought by Stronach Group CEO Belinda Stronach.

Fort Partners has a history of collaborating with Madison Realty Capital. They previously secured financing for the Four Seasons hotel and condo in Fort Lauderdale. They acquired the Four Seasons Hotel Miami on Brickell Avenue.

Additionally, Fort Partners secured a $110.7 million construction loan in November for Surf House, a separate 11-story, 17-unit condo planned for 8995 Collins Avenue. The financing was provided by Athene Annuity & Life Company, managed by Apollo Global Real Estate Management.

Fort Partners has become a dominant player in South Florida’s luxury real estate market, owning all Four Seasons-branded hotels and residential developments in the region. The firm is also collaborating with Ugo Colombo’s CMC Group on a boutique Four Seasons-branded condo in Miami’s Coconut Grove, which is currently in presales.