Terra, Fortune land $220M pre-dev debt for Key Biscayne condos, adding to streak of jumbo South Florida loans

Terra and Fortune International Group pulled in a $220 million financing for an oceanfront condo development, rounding off weeks of jumbo loans for South Florida projects.  Coconut Grove-based Terra, led by David Martin, and Brickell-based Fortune International, led by Edgardo Defortuna, obtained the debt for pre-development work on their planned condo building on the former Silver Sands Beach Resort property at 301 Ocean Drive in Key Biscayne, according to the developer’s news release. The pair have approval for a 14-story, 56-unit ultra-luxury project. Blackstone Real Estate Debt Strategies is the lender, the release says.  Keith Kurland and Aaron Appel were […]

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