Related Group—along with partners Teddy Sagi, BH Group, and Wanxiang America RE Group—has secured a $400 million construction loan from Madison Realty Capital for the Residences at Six Fisher Island. Madison Realty Capital’s loan replaces the $85 million acquisition loan the firm originated in 2022. The luxury condominium development offers 50 private residences across 10 stories. Berkadia South Florida arranged the nine-figure loan, with efforts led by Scott Wadler, Michael Basinski, and Patrick Johnson, as well as Mitch Sinberg, and Brad Williamson and Matthew Robbins.

Two of the property’s penthouses sold earlier this year for a combined total of $150 million, and the remaining inventory is targeting prices north of $4,000 per square foot. The residences average 4,817 square feet.

Residents will have 1,000 linear feet of shoreline. The property offers two pool decks, complete with swimming pools, sunbeds, private cabanas, full-service bars, and more.

Six Fisher Island includes designs from Tara Bernerd and Partners and Kobi Karp Architects. Construction will begin this summer and be completed in 2026.