Faena’s Miami River towers line up a reported $817 million construction loan
· Financing reported October 28, 2026
Faena Residences Miami, a pair of Faena-branded condo towers planned on the Miami River in downtown Miami, has secured a reported $817 million construction loan, money lent to pay for building the project.
Real estate × Financing
From sales brochure to building money
The developers are Fortune International Group, a Miami condo developer and sales company, and KAR Properties, a real estate developer. The lender is Tyko Capital, a real estate lending firm, according to Commercial Observer, which cites the project’s sponsors. Commercial Observer and The Real Deal both describe it as the largest construction loan on record in Florida.
The plan: two 68-story towers facing the Miami River, across from Brickell City Centre, designed by Rafael Viñoly Architects. Each tower is planned with 217 residences. Completion is targeted for 2030; that is a goal, not a promised move-in date.
A loan is not the cost of the project and not a sales figure: it is the money the lender agrees to provide, usually released step by step as construction moves forward.
Why it’s good, in plain words: big towers need big loans before the cranes go up. When a lender commits this much money, it signals that the project has moved past the idea stage and has the funding to be built. For the Miami River, that means one more step toward new homes, shops and activity on a waterfront that is changing fast.
- Project
- Faena Residences Miami, two planned towers
- Location
- Miami River, downtown Miami, across from Brickell City Centre
- Developers
- Fortune International Group and KAR Properties
- Lender
- Tyko Capital (reported)
- Loan
- $817 million (reported)
- Plan
- Two 68-story towers, 217 residences each
- Architect
- Rafael Viñoly Architects
- Completion
- Targeted for 2030
What it means for Miami · Our view
Financing is the step that separates a project on paper from one that gets built. It is real progress to follow, not a finished building.
Still to be confirmed
The lender has not published its own announcement, and the construction schedule and completion date are targets. Pricing is to be confirmed.
Sources
- Commercial Observer, October 28, 2026, citing the developers’ announcement
- The Real Deal, October 28, 2026
- Faena, official project page (design and location)
Want to know more?
Ask Cathy Mai Phung, founder and editor-in-chief of Miami Reimagined.