Fortune, One United Partner on $1B Miami Condo Project
Construction of the luxury skyscraper will begin early next year.
Romania-based One United Properties and its co-investors have committed $43 million for the development of ORA by Casa Tua, a $1 billion luxury condominium project in Miami’s Brickell neighborhood. Construction is expected to start during the first quarter of 2027.
This investment brings the company into a joint venture with developer Fortune International Group. Fortune Christie’s International Real Estate Associate Dan Maza worked as advisor on the transaction.
One United Properties is committing the capital through the participation of ERA5 Real Estate, its U.S. managing partner led by David Flusberg. One United’s own equity contribution totals $15 million, according to a filing with the Bucharest Stock Exchange.
ORA by Casa Tua represents One United Properties’ entry into the Miami real estate market. The company’s first U.S. residential project will take shape in Nashville, Tenn., and consist of a 42-townhome community named One Liberty Pike.
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The Miami condo project also represents the first residential tower to carry the Casa Tua name. Founded in 2001, the lifestyle and hospitality company operates restaurants, hospitality venues and private membership clubs across Miami Beach, Fla., New York, Aspen, Paris and Capri.
Arquitectonica designed the 77-story skyscraper. Milan-based m2atelier will serve as interior designer and ArquitectonicaGEO will oversee landscaping.
A new condo addition in Brickell
ORA by Casa Tua will rise approximately 957 feet and include 533 units. The project will take shape at 1210 Brickell Ave., on the waterfront of the Brickell district. The neighborhood includes multiple retail, dining, fashion and cultural venues within a walking distance, including the Brickell City Centre shopping mall. Interstate 95 and downtown Miami are close, while the city’s international airport is 9 miles away.
Residences will include studio and one- to four-bedroom layouts, as well as a collection of sky suites at the 74th floor and penthouses at the 75th. The condo units will be delivered fully furnished, with interiors featuring 10-foot ceilings, floor-to-ceiling windows, terraces with glass railings, storage space and smart technology.
The amenity package will include swimming pools with poolside cabanas, a fitness and wellness center across two floors, coworking spaces, a private members club, a clubroom with lounge space, a library and a children’s room, among others.
The property is also set to have nearly 25,000 square feet of restaurant and retail space across four concepts: Terra, a 24-hour market with lobby-level access; Uva, a wine bar at ground-floor level; Fuoco, a restaurant with visiting chefs on the rooftop; and Vento, a rooftop dining spot with fire pits and an entertainment stage.
Fortune’s condo projects in the Magic City
ORA by Casa Tua is only one of several projects developed by Fortune in the Miami condo market. Earlier this month, the company and Terra obtained a $220 million predevelopment loan for an ultra-luxury boutique condominium project in Key Biscayne, Fla. Fortune purchased the land for $205 million, marking the largest land transaction in the island’s history.
In October, the developer secured Florida’s largest-ever condominium construction loan, an $817 million note provided by TYKO Capital for Faena Residences Miami. The 406-unit waterfront project is developed in conjunction with KAR Properties.
The same month, Fortune and Château Group received a $463 million loan for St. Regis Residences, a 320-unit luxury condo project in Sunny Isles Beach, Fla. Upon delivery, the property will include two 62-story buildings, expected to generate more than $3 billion in sales.
