$463M Financing Deal Advances Luxury Oceanfront Development In Sunny Isles

Fortune International Group and Château Group have secured a $463 million financing package from Madison Realty Capital for The St. Regis Residences, Sunny Isles Beach, a luxury oceanfront condominium development at 18801 Collins Avenue. The financing will refinance approximately $418 million in existing debt provided by Bank OZK and fund the remaining construction of the project’s 170-unit South Tower. The development, which includes two planned 62-story towers, represents a major residential investment along Miami-Dade County’s northern coastline.

South Tower Construction and Sales Progress

Construction of the South Tower began in 2023, with completion currently anticipated by the end of 2028.

The developers have reported that approximately 80 percent of the South Tower’s residences have been presold, representing more than $1.6 billion in sales.

The strong presale activity provides an important backdrop for the new financing, demonstrating buyer commitments to the project well ahead of its scheduled completion.

The development’s second building, the 150-unit North Tower, has not yet begun construction. However, it secured approximately $114 million in financing from City National Bank of Florida earlier in 2026.

Together, the two towers are planned to contain 320 residences along Collins Avenue.

Berkadia Arranges Construction Financing

Berkadia arranged the $463 million transaction through a team consisting of Scott Wadler, Michael Basinski, Mitch Sinberg, Matt Robbins, Brad Williamson and Matthew Monahemi.

Madison Realty Capital, a New York-based commercial real estate investment firm, is providing the financing that will replace the existing Bank OZK debt while supplying additional capital for construction.

The transaction marks another significant commitment by Madison Realty Capital to the Sunny Isles Beach luxury residential market.

Financing Highlights Continued Investment in Branded Residences

The St. Regis financing illustrates the substantial capital requirements associated with developing high-rise, oceanfront condominiums in South Florida.

The project’s reported presales, combined with the size of the latest financing commitment, demonstrate how established developers can leverage contracted condominium sales to secure financing for large-scale projects.

The transaction also highlights the continued involvement of private real estate lenders in financing branded luxury residential developments along the Sunny Isles Beach coastline.

Key Facts