Developers Fortune International Group and Oak Capital obtained a $259 million construction loan to move forward with the Ritz-Carlton Condo Hotel & Residences, in Pompano Beach, Florida. Bank OZK provided the mortgage to the developers for the two-tower project on 4.6 acres at 1380 S. Ocean Blvd. The Ritz-Carlton Residences, Pompano beach will feature a 32-story tower along the beach with 117 condos and a 14-story condo on the Intracoastal Waterway with 88 condos. The project will have over 35,000 square feet of amenities, including pools, sports courts, a beach club, a marina, and resident-only restaurants. There will also be several suites that condo owners can rent out for guests. Edgardo Defortuna is president of Fortune International. Ricardo Dunin is CEO of Oak Capital. Revuelta Architecture International designed the project and Piero Lissoni handled the interiors and landscaping. The project will be completed in 2025.
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