Months into the work, a $163 million construction loan will fuel more activity at the Ritz-Carlton Residences in Sunny Isles Beach.Miami developer Fortune International Group and the Chateau Group in Hallandale Beach nabbed the money for the 212-unit tower rising on a beachfront lot at 15701 Collins Ave. The developers used Sunny Isles Property Venture LLC to secure the financing from the Bank of the Ozarks in Arkansas.
Fortune International Group and Château Group closed on $163.11 million in construction financing for the Ritz-Carlton Residences in Sunny Isles Beach, boosting their mortgage to $212.11 million. Records show the developers, Sunny Isles Property Venture LLC, secured the loan from Bank of the Ozarks, an active lender in South Florida and New York. Fortune and Château broke ground on the 52-story, 212-unit tower in June, at the time telling The Real Deal that they were in the process of securing financing with a traditional lender.
Long a hub for Latin Americans, Miami is now attracting newcomers from across the Atlantic: affluent Turkish home buyers looking for stable investments in real estate.
In the past two years, Turkish buyers have set their sights on Miami’s condo developments, purchasing large properties for use as second or third homes. Overall, luxury-condo developers are seeing about 5% of preconstruction inventory sold to buyers from Turkey, according to developers.
Delimitada pelo oceano Atlàntico, a leste, e pela a Intracoastal EWaterway, a oeste, Sunny Isles Beach é conhecida como a Florida's Riviera. O destino, frequentado por visitantes de todo o mundo, ofrece dias de praia traquilo o revigorante, e noites memoráveis. Esse foi o local escolhido pelos lideres em desenvolvimento imobiliário de luxo no sul da Flórida, Chateau Group e Fortune International Group, para abrigar o novo The Ritz-Carlton Residences.