Fort Partners Secures $45M Inventory Loan for Seaway at the Surf Club in Surfside
March 28, 2025
Fort Partners has secured a $45 million inventory loan for its newly completed oceanfront condominium development, Seaway, at the Surf Club in Surfside, Florida, as 11 units remain unsold, property records show.
According to mortgage documents, the loan, provided by New York-based lender Bether Capital, is collateralized against three units in the luxury development. Bether Capital specializes in EB-5 program financing, which grants U.S. residency to foreign investors contributing over $1 million.
Completed in October, the 34-unit Seaway at the Surf Club sits at 9149 Collins Avenue, just north of the prestigious Four Seasons-branded Surf Club Fort Partners developed in 2017. The Surf Club continues to command strong resale prices. To date, 23 units at Seaway at the Surf Club have sold for $293.5 million.
The development was initially backed by a $169 million construction loan from Bank OZK in 2022. This latest financing marks the second inventory loan for a significant Miami development in recent weeks—Terra and Russell Galbut recently secured a $103 million loan for Five Park in South Beach, which is about 90 percent sold.
Fort Partners, led by Nadim Ashi, remains highly active along Surfside’s coast. Since November, the firm—known for owning all Four Seasons properties in South Florida—has secured $108 million and $111 million in construction loans for additional boutique condo projects.
Representatives for Fort Partners and Bether Capital did not immediately respond to requests for comment.
