SALES
Terra and Fortune International Group joined to acquire the former Silver Sands Resort in Key Biscayne for $205M.
The joint venture has plans for a branded development with 56 condos at 301 Ocean Drive. Amenities for the project include a fine dining restaurant, a fitness center, a spa and social areas. The hotel, built in 1956, last traded for $6.4M in 1991, the SFBJ reported.
Plans for the development were approved in October. Construction is expected to begin in 2026.
