Fortune, Château score $463M loan for St. Regis Sunny Isles
Edgardo Defortuna’s Fortune International Group and the Grosskopf family’s Château Group secured a $463 million loan package for the St. Regis Residences, Sunny Isles Beach, marking one of the largest loans to close in the beachfront city. Madison Realty Capital is providing the financing, accordin
Driftwood, Merrimac, MV Real Estate score $145M loan for Miami Riverside Wharf mixed-use project
The developers of the $350 million Riverside Wharf along the Miami River scored a nine-figure construction loan from a regional bank for the 200,000-square-foot mixed-use project. Driftwood Capital, Merrimac Ventures and MV Real Estate Holdings secured $145 million in construction financing from Ark
Developers snap up multifamily sites despite higher costs, overbuilding
A pair of developers scooped up two separate multifamily project sites, as South Florida construction costs stay elevated and the region has barely emerged from years of oversupply in the rental market. In the bigger deal, an affiliate of Brickell-based North Development paid $32.8 million for the
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