The asset involved in this transaction is a development site located at 8995 Collins Avenue in Surfside, featuring a buildable square footage of 25,171. The property is designated for the construction of Surf House, a luxury oceanfront condominium project. The construction has been financed with a loan amount of $110,700,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $110,700,000
• Address: 8995 Collins Avenue
• Market: Surfside
• Lender: Athene Annuity and Life Co., Fox Hedge Intermediate B & EOS Luxembourg SCSP Sicav-Raif
• Landlord: Nadim Ashi - Fort Partners
• Loan Type: Construction

The individuals involved in this transaction include Nadim Ashi, representing Fort Partners, the developer of the Surf House project. The design of the 11-story structure has been executed by Kobi Karp Architecture, and the development features distinctive amenities including spacious units, a pool, and exclusive rooftop pools for penthouses. This deal follows Fort Partners’ previously launched Four Seasons Residences project in Coconut Grove, in partnership with Ugo Colombo's CMC Group.