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Separate Sunny Isles Projects Score Construction Loans

The 192-unit Jade Signature at 16901 Collins Ave. received a $284 million loan, while the 68-unit Muse condo project at 17141 Collins Ave. got $167.6 million.

September 26, 2014 at 09:23 AM

1 minute read

By Eleazar David Melendez | Updated on September 26, 2014

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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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