PROJECT MILESTONE ·
Architectural rendering; planned conditions, not completed construction.
Faena Residences Miami reached a major financing milestone on October 28, 2026. Fortune International Group and KAR Properties announced $817 million in construction financing from TYKO Capital. Walker & Dunlop arranged the transaction and describes it as Florida’s largest condominium construction loan recorded to date.
The announcement concerns financing for the planned development; it is not confirmation that the towers have been completed. October 2026 coverage places estimated completion in early 2030. Groundbreaking was reported as scheduled for November 2026 and remains a scheduled milestone until confirmed.
Why it matters
For buyers tracking progress, a construction loan is a concrete capital milestone to consider alongside site activity and the developer’s written construction updates. It does not guarantee delivery timing, appreciation or rental returns.
What comes next?
Track the confirmed groundbreaking, subsequent construction progress and the pour of the highest residential unit. Payment obligations follow the purchase agreement and developer notices, rather than a general news estimate.
Floor plans · Current pricing · Deposit schedule
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Sources: October 28 developer announcement, reported by PROFILEmiami October 29; Walker & Dunlop transaction announcement October 29.
Milestone date shown above. Independent update prepared November 2, 2026. Project details and estimates may change; the developer’s current documents govern.
