NEWS
 
March, 1 2007

Miami Beach, FL: The Ritz-Carlton Club and Residences, South Beach announced today plans to develop an additional tower of wholly-owned residences on the west side of Collins Avenue and 29th Street
“The design of the new tower offers a majority of smaller floor plans, which creates opportunities for a new segment of buyers such as singles and second-home owners,” said Edgardo Defortuna, president of Fortune International, co-developer of the project. Added co-developer and Lionstone Development CEO Diego Lowenstein, “sales for one-bedroom residences in our first phase were overwhelmingly successful, prompting us to embark on this strategy.” . The new eight-story tower will be the fourth tower in the complex and will feature 36 one-bedroom, 17 two-bedroom and two three-bedroom residences along with a full-service fitness center, swimming pool, whirlpool and resident lounge. All Residences will include top-of-the-line finishes such as Subzero and Miele appliances as well as cutting-edge European design cabinetry. Ranging in size from 966 to 2,481 square feet.
 
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