Developer Seeks Strong Equity Partner to Maximize Oceanfront Land
MIAMI, March 5, 2012 /PRNewswire/ -- South Florida's real estate market is heating up and Miami-based firm Shefaor Development is set to add some sizzle with their iconic 40-story project slated for construction on the 1.6 acres of premier oceanfront land located at 4111 South Ocean Drive, in Hollywood Beach, Florida, which the group recently placed under contract. With oceanfront development opportunities almost non-existent along South Florida's beaches, Shefaor is ensuring that it maximizes their opportunity by teaming with the 'perfect joint-venture partner' in order to do justice to the stellar property. As Shefaor Development conducts its extensive search, criteria such as experience in oceanfront development, financial depth and luxury brand recognition are taking center stage for Robert Kaplan, of Ackman-Ziff, who has been charged with the task of finding Shefaor's partner.
With approved plans already in place to construct a 40-story, 477 room hotel or condo-hotel, designed by world-renowned architect Carlos Ott (www.carlosott.com), local and county governments have demonstrated their enthusiasm about the project by offering developers the opportunity of including over 200,000 square feet of residential condominium units within the project. "This is such a once-in-a-lifetime opportunity so we are seeking a partner who has intimate experience with luxury oceanfront hotel development to make sure that the opportunity is maximized and that the project is done right," said Marc Schmulian, the Executive Director for Shefaor Development. With projects such as Artech Residences and Uptown Marina Lofts already within their portfolio, Shefaor Development, which was founded by Jacques Claudio Stivelman and Gilbert Benhamou, is no stranger to creating iconic and ultra luxurious properties in South Florida.
Since word about the project was publicized a few weeks ago in an article by the Daily Business Review, Ackman-Ziff has been contacted and has met with some of the nation's most well respected developers and hoteliers in order to find the perfect suitor for this premier location. As the time draws closer for Shefaor to make a decision about who it will select as its joint-venture partner, many interested parties, pre-screened by Ackman-Ziff, have begun to emerge as serious contenders with the professional and financial capability of joining Shefaor Development to create a project that is truly a spectacular landmark.
Robert Kaplan ([email protected]) of the Miami office of Ackman-Ziff is leading the marketing effort.
With roots dating to 1926, The Ackman-Ziff Real Estate Group is the industry's pre-eminent boutique real estate capital advisory firm specializing in debt financing, mezzanine financing, preferred equity, joint venture equity, and sponsor equity. The firm is highly regarded within the industry for its integrity, creativity, and advocacy on behalf of its clients.
As one of the fastest growing real estate development companies in South Florida with over $2 billion in sales and ½ billion in rental income, Shefaor Development specializes in luxury high-rise residential condominiums, single family homes, multi-family housing, retail and mixed-use projects and performs as the developer as well as acting developer on behalf of project owners.
CONTACT:
ROBERT A. KAPLAN
Principal
(305) 503-1107
[email protected]
SOURCE Shefaor Development
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