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Nadim Ashi Of Fort Partners Secures $45 Million Loan For Surfside Condo From Bether Capital

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FINANCED
$45,000,000

Florida

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Condo
Financed 03/21/2025
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Property Image
FINANCED

Nadim Ashi Of Fort Partners Secures $45 Million Loan For Surfside Condo From Bether Capital

9149 Collins Avenue

See Similar Deals
Condo
Financed 03/21/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Condo
Transaction Type:Loan

The property asset involved in this transaction is a condo located at 9149 Collins Avenue in the Surfside market. The loan amount associated with this transaction is $45,000,000.00. The lender for this deal is Bether Capital.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $45,000,000.00
  • Lender: Bether Capital
  • Landlord: Nadim Ashi - Fort Partners

The transaction features key individuals and companies involved in the deal, specifically highlighting Nadim Ashi representing Fort Partners as the landlord in this transaction. The deal was structured with Bether Capital providing the necessary financing for the condo asset.

Details

FINANCED
IMAGE: Tj Kang, Lily Zheng & Nadim Ashi DATE: 03/21/2025 ADDRESS: 9149 Collins Avenue MARKET: Surfside ASSET TYPE: Condo ~ UNITS: 34 LENDER: Glen Kenndy & Lily Zheng - Bether Capital LANDLORD: Nadim Ashi - Fort Partners LOAN AMOUNT: $45,000,000 NOTE: Fort Partners secured a $45 million inventory loan from Bether Capital for Seaway at the Surf Club in Surfside, using three unsold units as collateral. The 34-unit condo, completed in October, has sold 23 units for $293.5 million, following a $169 million construction loan from Bank OZK.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$45,000,000.00

Monthly NOI$300,000.00
Monthly Debt Service$284,430.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00