A $210 million construction loan obtained by Miami developer Fort Partners from Madison Realty Capital for the Four Seasons Hotel and Private Residences Fort Lauderdale is believed to be a record for residential construction loans in the city.

Construction is underway, more than 60 percent of the units have been pre-sold, and occupancy is scheduled for 2021.

New York-based Madison Realty is a 15-year-old real estate private equity firm that's closed more than $12 billion in transactions. The company is led by managing principals John Zegen, Brian Shatz and Adam Tantleff.