Terra, Fortune Ink $220M Key Biscayne Condo Financing
Terra and Fortune International Group secured a $220 million predevelopment loan from Blackstone Real Estate Debt Strategies for their planned ultra-luxury condominium development on the former Silver Sands Beach Resort property at 301 Ocean Drive in Miami’s Key Biscayne. Walker & Dunlop Capital Markets Institutional Advisory, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, and Nicholas Gilhooley arranged the financing on behalf of the development team.
The financing marks the latest step in advancing plans for the 4.25-acre oceanfront property, which Terra and Fortune acquired for $205 million in 2025 in the largest land sale in Key Biscayne history. Preconstruction sales for the 56-unit condo development are expected to launch later this year.
Plans call for an ultra-luxury boutique condominium featuring spacious residences with panoramic ocean views and a collection of luxury amenities. It will be designed by Touzet Studio and ODP.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout