Sunny Isles Beach St. Regis Condo Project Secures $463M Refinancing

Developers Fortune International Group and Château Group have secured their second loan this year for the St. Regis Residences, a branded condo project in Sunny Isles Beach carrying Marriott International's luxury St. Regis name. Madison Realty Capital provided the $463M financing package, according to a company release.

The two-tower, 320-unit project is at 18801 Collins Ave. The new capital will fund ongoing construction of the South Tower and add dining, hospitality and amenity offerings. The loan refinances a $418.3M mortgage from Bank OZK that was taken out in December and had been upsized from an original $159M loan made in April 2024.

The under-construction 170-unit South Tower is more than 80% sold. The developers are preparing to break ground on the 150-unit North Tower after a separate $113M loan from City National Bank of Florida in April. Unit prices start at $5.1M, and the building will offer 435 linear feet of direct water access and about 70,000 square feet of amenities.

Miami has 42 branded condo projects under construction and 73 planned, according to a September Knight Frank report, second only to Dubai worldwide. Lenders remain willing to finance branded projects, even as some observers question market saturation.

For developers and lenders, the deal shows continued capital for branded luxury condos in South Florida, though the saturation question remains open.