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301 Ocean Drive

Updated Nov 2, 2026

FINANCEDDevelopment Site

David Martin Of Terra And Edgardo Defortuna Of Fortune International Group Secures $220M Loan In Key Biscayne

301 Ocean Drive

$220,000,000

Building Size

—

Asset Type

Development Site

Closing

Oct 29, 2026

About this deal

AI

The asset involved in this transaction is a development site located at 301 Ocean Drive in Key Biscayne, encompassing 4.25 acres. The market value of this site is linked to the planned construction of an ultra-luxury oceanfront condominium, following a significant acquisition in 2025.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $220,000,000
Lender: Blackstone Real Estate Debt Strategies
Borrowers: David Martin - Terra; Edgardo Defortuna - Fortune International Group
Broker: Keith Kurland - Walker & Dunlop

This transaction highlights the collaboration between Miami-based companies Terra and Fortune International Group. The financing allows for the initiation of preconstruction sales later this year, following their historic property acquisition, which was the largest in Key Biscayne. The development will be designed by Touzet Studio and ODP, with a focus on landscape architecture by Raymond Jungles.