The Heafey Group has recently secured an $80 million refinancing deal for the Conrad Fort Lauderdale Beach condo-hotel from Ocean Bank. The property was acquired by Heafey in 2017 for $100 million. Eddie Diaz, T. George Harduvel, and Lourdes Quiñones acted as representatives for Ocean Bank in this transaction.
This loan has supported significant renovations to the property, including the newly opened Vitolo restaurant and Japanese eatery Takato. The refinancing serves to consolidate previous debts and manage ongoing improvement costs, strategically enhancing the market competitiveness and profitability of this 24-story property.
According to its website, although involved in diversified commercial activities such as food & beverage and hospitality sectors, Heafey’s main focus remains on real estate investment, development,and management of commercial,residential,and industrial properties.
The article “Conrad Ft.Lauderdale Owner Procures $80M Refi” was originally published on Connect CRE.
