Business

Jade Signature gets $284-million construction loan

Miami-based Fortune International Group closed on a $284-million construction loan from HSBC for Jade Signature condo project in Sunny Isles Beach.

Fortune, which both develops condominiums and leads sales and marketing for other developers, said more than 80 percent of the units are under contract in the 57-story project at 16901 Collins Avenue.

The 192-unit tower was designed by the architectural firm Herzog & de Meuron, with interior design by the Parisian firm PYR. Raymond Jungles is the landscape architect.

Unit prices currently range from $3 million to $29 million.

“This is the third Jade project that HSBC has financed the construction of,’’ said Eduardo Imery, executive vice president and CFO at Fortune International Group.

Fortune said its construction loan “will support the timely completion’’ of the tower, projected for delivery in 2017. Suffolk Construction began construction on the project last year.

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