Fortune International Group and Chateau Group secured a $418.3 million construction loan for the St. Regis Residences, Sunny Isles Beach condo towers. Bank OZK was the lender.
The St. Regis will be the tallest building in Sunny Isles Beach at 750 feet in 62 stories. The South Tower will have 175 condos and the North Tower will have 170 condos. Prices started at $4.5 million.
Fortune International Group and Chateau Group broke ground on the St. Regis in 2023 with Coastal Construction as general contractor and Arquitectonica as the architect.
Amenities in the project will include a beach club on the ocean, a sunset pool deck, a cognac room, a wine bar, gaming rooms, pickleball and padel courts, a fitness center, a therapeutic wellness pool, kid’s and teen’s clubs, and private lounges.
The developers acquired the property back in 2014 after buying out the owners of an older condo building and demolishing it.
The post Developer Duo Close $418M Financing for Sunny Isles Condo Towers appeared first on Connect CRE.
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