Berkadia has arranged a $73.27 million construction loan for Nexo Residences, a 16-story short-term rental condominium project currently under development by Fortune International Group and Blue Road in North Miami Beach. The loan, provided by Bank Hapoalim (BHI), will support the completion of the 254-unit tower, which has already topped off.
Nexo Residences is among the first new developments in the area designed specifically for flexible ownership and short-term rental use. The project is already 90% sold, with buyers from over 25 countries. Construction remains on schedule for delivery in 2027, with Kast Construction serving as the general contractor.
“This financing reflects strong confidence in both the quality of the product and the North Miami Beach submarket,” said Edgardo Defortuna, CEO of Fortune International Group. “Nexo’s blend of elevated design, resort-style amenities, and rental flexibility continues to resonate with today’s global buyer.”
The Berkadia team was led by Managing Director Scott Wadler, Director Michael Basinski, Vice President Bobby Dockerty, Senior Managing Director Mitch Sinberg, and Managing Directors Brad Williamson and Matt Robbins, operating from the firm’s Miami and Boca Raton offices.
“A trifecta of experienced sponsorship, high-quality product, and a prime location near Aventura and SoLé Mia created strong lender interest,” said Wadler. “This loan will help bring an exceptional project to completion in one of South Florida’s most promising growth corridors.”
Nexo Residences offers fully furnished studios to three-bedroom residences, along with a limited collection of three- and four-bedroom townhomes. Prices start in the $599,000s. The development is exclusively marketed and sold by Fortune Development Sales.
Designed by Frankel Benayoun Architects Inc. and envisioned by Carlos Ott, with interiors by Urban Robot, the tower features modern layouts with floor-to-ceiling windows, Italian cabinetry, porcelain tile flooring, built-in closets, and smart home integrations. Each unit includes parking and lockable owner closets to support flexible rental strategies.
Residents will enjoy a robust amenity package including a three-story arrival lobby and café lounge, a two-story tech center with coworking space, a Resort-style pool deck with Jacuzzi and summer kitchens, a Rooftop observatory deck, a Children’s playground, a Multi-purpose clubroom and outdoor movie theater, a yoga studio, and wellness spaces
Located at 13899 Biscayne Boulevard, Nexo Residences offers quick access to Oleta River State Park, Florida International University, and top retail and dining in Bal Harbour, Aventura, and North Bay Village. Both Miami International Airport and Fort Lauderdale-Hollywood International Airport are within a 30-minute drive, while the Brightline Aventura Station is just four miles away.