Chilean developer Claudio Fischer has obtained a $65 million loan from Banco Santander, secured by a 1-acre development site in Miami’s Brickell neighborhood. The property, located at 68, 82 and 84 Southwest 13th Street and 1399 Southwest First Avenue, includes a three-story office building that formerly housed the Mexican consulate before its relocation to Coral Gables in 2023.
Fischer’s plans for the site involve demolishing the existing structure to build a 41-story residential tower with 544 units, approximately 9,400 square feet of retail space, and parking for 421 vehicles. Miami-Dade County approved the Arquitectonica-designed project last year. It is not yet clear whether the planned units will be apartments or condominiums.
Records show that an entity managed by Fischer purchased the assemblage for $53 million in 2020. This would be Fischer’s first high-rise development; he is also known as the founder of Sun Dreams, a casino resort operator in Latin America.
However, public records indicate that Fischer is under contract to sell the site to Key International, a Miami-based firm led by brothers Inigo and Diego Ardid. According to documents filed in public deeds, the purchase and sale agreement serves as collateral for Banco Santander’s mortgage. There has been no confirmation on whether the $65 million loan will fund construction of the project. Neither Fischer nor representatives from Key International have commented on these developments.
Key International holds about 6,000 residential units and manages roughly $2 billion in assets. The company is also working with Coconut Grove-based 13th Floor Investments on several projects in South Florida. Together they are developing a Nobu-branded condominium tower in Brickell and recently secured financing for Skye, an apartment complex within Parks at Delray.
