Swire Properties tapped Edgardo Defortuna’s Fortune Development Sales to market the condo component of its planned two-tower Mandarin Oriental Residences on Miami’s Brickell Key, The Real Deal has learned.
Edgardo Defortuna’s Fortune International Group and Ricardo Dunin’s Oak Capital landed a $259 million construction loan for The Ritz-Carlton Residences, Pompano Beach. Fortune and Oak Capital are developing the two-building, 205-unit condo project between the Atlantic Ocean and the Intracoastal Waterway. The 4.6-acre site is at 1380 South Ocean Boulevard. Bank OZK provided the financing, according to a release. Construction started this year, and completion is expected in 2026, the release says.
The development will be built on the site of the existing Mandarin Oriental hotel at 500 Brickell Key Avenue and the adjacent property. Plans call for an 800-plus-foot building with 220 condo units, and a 400-foot hotel with 121 rooms, 66 condos and 28 hotel residences.
