St. Regis Sunny Isles construction loan boosted to $418M
Edgardo Defortuna’s Fortune International Group and Manuel Grosskopf’s Château Group closed on additional financing for their under-construction St. Regis Residences in Sunny Isles Beach. Little Rock, Arkansas-based Bank OZK increased the existing loan by over $200 million to $418.3 million, completing the project’s construction financing, according to property records and a news release. Bank OZK provided the developers’ joint venture with a $119 million loan in 2020, and last year boosted that by $100 million. The two-tower, 320-unit development is being built on the 4.7-acre site at 18801 Collins Avenue. The property has 435 feet of ocean frontage. Sales of […]This article originally appeared on The Real Deal. Click here to read the full story.
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