Two Sunny Isles Beach developments secured blockbuster construction loans in a sign of lender’s confidence in the future of the ultra-luxury enclave, which could help boost the 11 other pre-construction projects in the oceanfront city.
The latest condominium to receive a loan was the 192-unit Jade Signature at 16901 Collins Ave. Developer Fortune International Group closed Thursday on a $284 million loan from HSBC, the Daily Business Review learned. It is the third Jade-branded project HSBC has financed. Over 80 percent of the new units are under contract, according to Fortune.
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