Nexo Residences, Fortune International Group and Blue Road’s new 16-story condo in North Miami Beach, has tapped short-term rental operator AvantStay to run its hospitality program just as vertical construction nears completion. The project is set to deliver 254 turnkey residences and a limited collection of townhomes built for flexible “live, own and host” use, with a heavy amenity and tech lineup aimed at hybrid workers and investors. Developers say the partnership cements Nexo’s identity as an amenity-rich, tech-forward option for buyers who want their homes to earn money when they are not there.
In a May 13 press release, AvantStay said it will serve as Nexo’s preferred property manager and technology platform, handling short-term rental units and staffing an on-site hospitality team for guest services, housekeeping and daily operations, according to PR Newswire. The company cast the deal as a strategic expansion of its South Florida footprint, and Fortune International Group CEO Edgardo Defortuna called the management choice “critical” to Nexo’s vision. The announcement states that the property is scheduled to open in the third quarter of 2026.
Design, units and amenities
Developer materials describe Nexo as a 254-unit tower at 13899 Biscayne Boulevard with studio through three-bedroom residences and a small group of three and four-bedroom townhomes, all delivered fully furnished with European-style Italkraft kitchens, Dekton countertops, Bosch appliances, floor-to-ceiling windows and lockable owner closets, as detailed by Fortune International Group. The common areas are stacked with tech and lifestyle features, including a three-story arrival lobby, resort-style pool and jacuzzi, outdoor kitchens, an outdoor movie theatre, a two-story coworking and tech hub, and smart-key access and package lockers for residents and guests.
Sales, financing and timeline
Construction has already topped off and the project has secured its completion financing. Berkadia arranged a $73.27 million construction loan provided by Bank Hapoalim to finish the tower, the firm said in a financing release. Developers have reported strong presales, with units roughly 90 percent sold at the last update, and the loan follows a mix of condo deposits and EB-5 investor capital, according to Berkadia. With financing in place and a management partner locked in, Nexo is positioned to begin hosted operations as units deliver in the third quarter of 2026.
Local rules and what it means
Even though Nexo is being marketed for short-term hosting, city rules still control how vacation rentals work. North Miami Beach requires registration and limits how certain residential properties can be used for short-term occupancy, and it enforces penalties for violations under the city’s short-term rental ordinance. For a condominium development to run an internal short-term rental program, the association and developer typically set building policy and bring in licensed managers to keep the property in compliance, a model that Nexo’s marketing and its new operator appear to follow as launch approaches…