MIAMI—Back to back mega condo loans prove that the capital markets are still interested in Miami's luxury landscape. Just days after Cohen Financial announced a $167 million construction loan for its Muse condo in Sunny Isles Beach, Fortune International Group has closed a construction loan up to $284 million for Jade Signature. HSBC provided the loan, but was not immediately available for comment.
“We value our longstanding relationship with HSBC, which has financed many of our properties and projects,” says Edgardo Defortuna, CEO and founder of Fortune. Over 80% of the luxury condominiums are under contract.
Pritzker Prize-winning architecture firm Herzog & de Meuron designed the the 192-unit Jade Signature tower in collaboration with Parisian interior design firm PYR, led by Pierre-Yves Rochon, and landscape architect Raymond Jungles. DeFortuna is sure it introduces “a new standard of luxury and design in Sunny Isles Beach.” Those are strong words, given the Trump projects there.
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