Fortune International Group And Château Group Upsize $418.3 Million Construction Loan For St. Regis Residences
18801 Collins Avenue
$418,300,000
Building Size
—
Asset Type
Development Site
Closing
Dec 1, 2025
AI
The asset involved in the transaction is a development site located at 18801 Collins Avenue in Sunny Isles Beach. The site spans approximately 4.8 acres and is currently home to the 62-story St. Regis Residences project, which features two towers and a total of 345 luxury units. Prices for these units begin at $4.5 million.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $418,300,000
- Lender: Bank OZK
- Landlord: Edgardo Defortuna - Fortune International Group
- Co-landlords: Sergio & Manuel Grosskopf - Château Group
- Completion Status: Project is already underway
The transaction was marked by the upsizing of the construction loan from Bank OZK, ensuring full funding for the ongoing luxury project. Edgardo Defortuna along with Sergio and Manuel Grosskopf represent their respective firms in the deal, emphasizing the collaboration between Fortune International Group and Château Group to successfully advance this substantial development.
Players
Sunny Isles Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93