Berkadia Arranges $463 Million Madison Realty Capital Refinancing for St. Regis Residences in Sunny Isles Beach

Berkadia has arranged $463 million in construction financing for The St. Regis Residences, a two-tower luxury oceanfront condominium development in Sunny Isles Beach, Florida, the firm announced Nov. 3, 2026. Madison Realty Capital provided the loan to developers Fortune International Group and Château Group. The transaction refinances existing debt with Bank OZK and provides capital to support continued construction of the project's South Tower.

Berkadia said the transaction ranks among the largest financings ever completed in Sunny Isles Beach.

Berkadia Team Arranged the Financing for the Developers

Managing Director Scott Wadler and Director Michael Basinski of Berkadia Miami, along with Senior Managing Director Mitch Sinberg, Managing Directors Matt Robbins and Brad Williamson, and Senior Analyst Matthew Monahemi, arranged the financing on behalf of the developers, Fortune International Group and Château Group.

"Construction financing of this magnitude reflects more than the strength of the asset – it reflects the confidence lenders have in experienced sponsors with a proven ability to execute," Wadler said. "We're proud to continue supporting Fortune International Group and Château Group as The Residences advance from vision to reality. This transaction underscores the enduring appeal of premier oceanfront opportunities in Sunny Isles Beach and the continued demand for best-in-class luxury residential developments."

Berkadia previously arranged land financing in April 2026 to advance pre-development of the North Tower.

Project Details: 320 Residences on 435 Feet of Ocean Frontage

The St. Regis Residences is located at 18801 Collins Avenue in Sunny Isles Beach, directly on the Atlantic Ocean. The development will comprise 320 residences across two towers, including 170 residences in the South Tower and 150 in the North Tower. Each tower is planned at approximately 62 stories and 750 feet. The site covers approximately 4.7 acres and includes 435 linear feet of ocean frontage.

The project features more than 70,000 square feet of amenities, including signature restaurants, a full-service spa, resort-style pools and wellness facilities. St. Regis-branded services include private elevators and butler service. The marketed completion year is 2027.

Arquitectonica designed the development, and Coastal Construction is the general contractor. The South Tower is more than 80% sold, according to Berkadia, with vertical construction underway following completion of its foundation mat pour earlier this year. The project is also preparing for the next phase of construction on its North Tower.

At the reported 320-unit count, the $463 million loan equates to approximately $1.45 million per planned residence. That figure is a financing metric rather than a sale price or loan-to-value ratio.

Madison Realty Capital Loan Replaces Bank OZK Debt

Madison Realty Capital provided the construction loan, which refinances the project's existing Bank OZK debt and adds capital for continued South Tower construction. The structure combines refinancing with new construction funding while the North Tower advances toward its next phase.

The loan reflects the role of private credit in luxury condominium construction in South Florida. Berkadia characterized lender confidence in experienced sponsors as a factor in the financing.

Sunny Isles Beach Financing Volume

Berkadia reported that it has arranged more than $1.2 billion in financing for Sunny Isles Beach projects over the last 12 months. That total includes the market's largest-ever loan, a $630 million financing for Bentley Residences in 2025. The $463 million St. Regis Residences loan represents roughly 39% of that disclosed volume.

Sunny Isles Beach has become a concentrated market for large, high-end branded condominium projects. The St. Regis Residences competes for affluent domestic and international buyers with other oceanfront developments, including Bentley Residences and projects in nearby Bal Harbour, Surfside and Miami Beach.

Outlook for the St. Regis Residences

With the South Tower more than 80% sold and vertical construction underway, the new financing supports the next stage of the project as the North Tower prepares for construction. Fortune International Group and Château Group remain the sponsors of the two-tower development.

Sources

• Berkadia: Berkadia Arranges $463 Million Financing for the St. Regis Residences, Sunny Isles Beach, Miami