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JV Partners Pairing Again for Fontainebleau III

MIAMI BEACH, FL-The Fontainebleau Hilton and Turnberry Associates are partnering to build the 314-residence, 18-story tower here. The two are also jointly developing the 36-story Fontainebleau II condominium-hotel, which is currently under construction.

By Melissa Bogdany | Updated on February 10, 2004

MIAMI BEACH, FL-The Fontainebleau Hilton and Turnberry Associates have agreed to partner again to build Fontainebleau III, an 18-story condominium-hotel in the city. The tower will contain 314 residences with views of the Atlantic Ocean, Miami Beach and the Fontainebleau Hilton grounds.

The two developers joined in 2001 to introduce the 36-story Fontainebleau II condominium-hotel, which is under construction adjacent to the future site of Fontainebleau III. Fontainebleau III will be located on the south end of the resort’s property.

Plans for Fontainebleau III come on the heels of the success of Fontainebleau II. “With more than $200 million in sales, Fontainebleau II has been an unqualified success,” according to Melanie Muss, vice president of development for the Fontainebleau. Fontainebleau II is more than 90% sold.

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