Terra and Fortune secure $220 million loan for Key Biscayne condo project
Terra and Fortune International Group secured $220 million in predevelopment financing.
The short version
- Blackstone Real Estate Debt Strategies provided the loan for the Miami oceanfront site.
- The 56-unit ultra-luxury condo project replaces the former Silver Sands Beach Resort.
Terra and Fortune International Group just locked down a massive $220 million predevelopment loan from Blackstone Real Estate Debt Strategies, the massive lending arm of Blackstone, which is the giant private equity firm. The money is backing a 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 arranged the heavy financing for the development team. This massive cash injection comes after Terra and Fortune bought the 4.25-acre oceanfront property for $205 million in 2025, marking the largest land sale in Key Biscayne history.
Preconstruction sales for the 56-unit boutique condo project are expected to launch later this year. The property will feature spacious residences with panoramic ocean views and top-tier luxury amenities designed by Touzet Studio and ODP. For local builders and developers watching the market, high-end oceanfront real estate in South Florida continues to command massive institutional backing even as financing stays tight elsewhere. That is a whole lot of concrete and glass riding on the Florida coast.
