$290M Four Seasons Surfside Mortgage Is ‘First Sizable Nonrecourse Loan Since Crash’

Blackstone Group recently made a $290 million loan to Fort Capital to build the Four Seasons in Surfside – the first of its kind in years.

The loan is said to be the first major nonrecourse loan made since the market crash of 2008.

Scott Wadler and Jim Dockerty of HFF arranged the financing.

The project features 151 condos and 77 hotel rooms. In total, the project is offering $1.2 billion worth of inventory for sale; 60% of the units are in contract.