Record $817 Million Loan Funds Two Miami Towers
The massive private credit facility secures the construction of a new luxury condo project expected to finish by 2030.
Updated on Oct. 28, 2026 in Construction
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Developers in Miami are moving forward with a high-end condominium project after securing $817 million in private construction financing. This development, led by Fortune International Group and KAR Properties, aims to capture continued interest in the city's luxury real estate market.
Why it matters
The record-setting loan underscores the ongoing appetite for luxury development in Miami, supported by the state's zero personal income tax and a sustained influx of high-net-worth residents. It remains to be seen how the project will fit into the broader shift in regional density and office expansion as developers bank on the city's long-term desirability.
This $817 million financing package represents the largest construction loan in Florida history. It follows a period in the year ending September 2026 where Miami-Dade County recorded 24 real estate sales of at least $30 million.
The players
Fortune International Group
This local firm is co-developing the two new luxury condominium towers in Miami.
KAR Properties
This development company is partnering on the construction of the condominium project.
Tyko Capital
This firm provided the $817 million in private credit financing for the construction.
The details
Fortune International Group and KAR Properties are developing the two luxury towers, which will feature amenities such as an infinity pool and a private yacht dock. The project is being financed through private credit, highlighting a reliance on private capital for major luxury real estate initiatives. Construction is expected to continue through the end of the decade, with completion slated for early 2030.
Timeline
551 people moved to Florida per day in 2025.
24 luxury sales of over $30 million occurred in Miami-Dade between October 2025 and September 2026.
The condo project is projected to be completed in early 2030.
Beyond the 305
This project follows the pattern of multi-billion dollar capital investments in Miami, such as the $2.5 billion Citadel head office tower construction project. These high-value developments continue to reshape the city's skyline and define the local luxury real estate market.
This project signifies that the pipeline for ultra-luxury residential towers remains active, with completion anticipated by early 2030. Residents near major development sites should watch for upcoming permit announcements and traffic adjustments as construction scales up in the coming years.
The takeaway
This loan marks a major shift toward private credit as the primary engine for Miami's luxury residential growth. Observe how this development interacts with existing inventory and neighborhood density as we approach the projected 2030 completion date.
Further reading
For more on the city's changing skyline, see our ongoing coverage of Construction.
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