North Tower nears summer groundbreaking as construction continues on the South Tower
MIAMI, FL, UNITED STATES, April 23, 2026 /EINPresswire.com/ — Fortune International Group and Château Group, developers of The St. Regis Residences, Sunny Isles Beach, Miami, today announced the closing of a $113.75 million land loan for the North Tower with City National Bank of Florida.
The financing, arranged through Berkadia Miami, will support the project’s next phase, with the North Tower slated to break ground this summer as construction of the nearly sold-out South Tower progresses. The transaction underscores continued institutional confidence in the branded oceanfront development and its position within South Florida’s super-prime residential market.
“Today’s achievement represents another important step forward in the continued execution of our vision for The St. Regis Residences, Sunny Isles Beach, Miami” said Edgardo Defortuna, CEO of Fortune International Group. “We’ve seen strong alignment from both buyers and capital partners, and this milestone continues to propel the project into its next phase.”
“Momentum across the development has been consistent from the outset,” said Manuel Grosskopf, CEO of Château Group. “With the South Tower nearing sell-out and construction well underway, the North Tower builds on that foundation as we continue to deliver a project that resonates with today’s ultra-luxury buyer.”
“Our work with Fortune International Group spans many years, and this transaction brings together that history and our relationship with the Grosskopfs of Château Group,” said Jorge Gonzalez, Vice Chairman and CEO of City National Bank. “We appreciate the alignment and professionalism both organizations bring to projects of this nature.”
“We welcome the opportunity to begin working with Château Group through this financing,” said Christian Sundblad, Executive Vice President and Chief Wholesale Officer of City National Bank. “Their perspective and alignment with this project give us optimism as we establish a new relationship.”
Berkadia Miami Managing Director Scott Wadler and Director Michael Basinski, along with Senior Managing Director Mitch Sinberg and Managing Directors Matt Robbins and Brad Williamson, arranged the loan.
“Sunny Isles Beach has emerged as one of the most coveted addresses in the world, and the Sponsors have long understood this market’s trajectory having acquired the site more than a decade ago,” said Wadler. “In today’s capital markets environment, pre-development financing for a site and tower of this scale requires a sponsor team with an impeccable track record and the credibility to inspire lender confidence. Fortune International and Château Group bring both.”
Together, the two-tower enclave represents one of the most significant new residential offerings along Sunny Isles Beach, featuring approximately 435 linear feet of direct Atlantic frontage – the most of any residential enclave currently rising in the region – and more than 70,000 square feet of integrated amenities, including two signature restaurants, a full-service spa, resort-style pools, and a comprehensive wellness and lifestyle program.
The South Tower, scheduled for completion in 2028, comprises 170 residences, while the North Tower includes 150. Designed by Arquitectonica and built under the supervision of Coastal Construction, the development pairs a bold architectural profile with a hospitality-driven residential model anchored by St. Regis.
Remaining residences are priced from approximately $5 million. The on-site oceanside sales gallery is located at 18801 Collins Avenue, Sunny Isles Beach. For additional information, call 305.704.4700 or visit srresidencessunnyislesbeach.com.
The St. Regis Residences, Sunny Isles Beach, Miami are not owned, developed or sold by Marriott International, Inc. or its affiliates (“Marriott”). La Playa Beach Associates, LLC uses the St. Regis marks under a license from Marriott, which has not confirmed the accuracy of any of the statements or representations made about the project.
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About the Project Developers
Fortune International Group
Synonymous with excellence, quality, customer service and unwavering commitment to the highest standards of luxury, Fortune International Group has been a recognized leader in development, sales, and marketing since 1983. With over 7,000 units and 9 million square feet of projects delivered, the company’s prestigious development portfolio includes many of the most prominent residential properties in South Florida including Faena Residences Miami, Ora by Casa Tua, The Ritz-Carlton Residences, Pompano Beach, The St. Regis Residences, Sunny Isles Beach, Nexo Residences, The Ritz-Carlton Residences, Sunny Isles Beach, Jade Residences Brickell, Jade Beach, Jade Ocean, Jade Signature, Auberge Beach Residences and Spa Fort Lauderdale and Hyde Resort & Residences Hollywood.
The company’s Fortune Development Sales division is the premier, exclusive on-site sales and marketing representative for third-party development projects in South Florida, having sold more than 31,000 units and currently representing some of South Florida’s most successful projects such as: The Residences at Mandarin Oriental, Miami, Cipriani Residences, Bay Harbor Towers, Pagani Residences, Onda, Missoni Baia, Una Residences, 2000 Ocean, One Park Tower, Baccarat and Casa Bella Residences, among others. The firm’s real estate brokerage division, Fortune Christie’s International Real Estate, is the exclusive Christie’s affiliate in Miami-Dade and Broward counties. Fortune International Group has 21 offices around the world with over 1,000 associates. Fortune’s international broker network reaches legions of prospective buyers from South Florida to Buenos Aires, Hong Kong to São Paolo, and Manhattan to Paris. For more information, visit fortuneintlgroup.com.
The Château Group
The Château Group, founded under the leadership of Sergio and Manuel Grosskopf, has more than 45 years of experience in the development of real estate projects in South America and the United States. Château has participated in several major real estate endeavors over the last several years, Château introduced the concept of Mall in Argentina with the development of Alto Palermo and Alto Avellaneda Malls in Buenos Aires and the entry of Wal-mart and Zara to the Argentinian market. In the residential field, Château Group developed more than 1.6 million square feet distributed in the two most emblematic towers in Buenos Aires, Argentina: Château Libertador and Château Puerto Madero. In the United States, Château Group developed Château Beach Residences, a luxury high-rise condominium in Sunny Isles Beach, FENDI Château Residences in Surfside, the first real estate development branded by FENDI worldwide and most recently delivered The Ritz-Carlton Residences, Sunny Isles Beach, the most elegant oceanfront address in the area in combination with Fortune International Group. Other projects in the pipeline include 600 and 700 Biscayne (Miami, FL) and a mixed-use development in Hallandale Beach. In addition, Château Group has positioned itself as a high-end residential market leader in the world-renowned city of Punta del Este, Uruguay through the development of the new FENDI Château Residences, Le Jardin Residences, Beverly Tower, Coral Tower and Millenium Tower.
Caroline Underwood Burman
Kreps PR & Marketing
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