Wikipedia

Edgardo Defortuna

Edgardo Defortuna is an Argentine-American real estate developer and businessman. He is the President, CEO, and Founder of Fortune International Group, a real estate firm known for its high-end luxury properties in South Florida, Latin America, and Europe. Defortuna is fluent in both English and Spanish.

Edgardo Defortuna
Edgardo Defortuna
OccupationReal estate developer
EmployerFortune International Group
PartnerAna Cristina Defortuna

Early Life and Education

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Edgardo Defortuna was born in Buenos Aires, Argentina. At the age of three, his family relocated to Córdoba, where he spent his early years.[1] In 1983, after obtaining his bachelor's degree in Electrical and Mechanical Engineering from the National University of Argentina, he moved to the United States.[2][3] Defortuna later enrolled at the University of Miami, where he obtained an MBA. His career in real estate began in 1983, managing properties for family and friends and acquiring a small brokerage in the Brickell area.[2]

Career

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Fortune International Group operates in various aspects of the real estate industry, including development, resale brokerage, and new development sales and marketing.

Defortuna initially focused on units within the Brickell Place complex, where he established his first office. As his business grew, he acquired several real estate companies and consolidated them into a single entity, leading to the creation of Fortune International Group. The choice of name was a nod to Americanizing his surname, Defortuna, thus adopting 'Fortune.'[1]

During this time, Defortuna recognized an opportunity in the Latin American market and worked to meet the needs of South American clients. He collaborated with legal and financial experts to simplify the purchasing process, making it more accessible and structured.[4] He also traveled extensively across Argentina, Brazil, and Colombia to market his services and establish business relationships with local brokers.[5][3][6]

By 1998, alongside his wife Ana Cristina Defortuna, Defortuna had developed Fortune International Group into a brokerage, establishing a presence in Miami's most sought-after neighborhoods, including Brickell, Key Biscayne, Coral Gables, Miami Beach, Aventura, and Sunny Isles Beach.[7][8]

The brokerage expanded into development with the Jade Residences at Brickell Bay project. The completion of this 48-story high-rise in 2004 not only launched the Jade brand but also marked a significant shift in Defortuna's career where he would take on major development ventures.[2]

In 2008, Defortuna completed Jade Beach, a 51-story, 248-unit tower in Sunny Isles Beach, followed by Jade Ocean, a 52-story, 251-unit tower in the same area a year later. The Jade series is named after Defortuna's late father, José Andrés Defortuna and symbolizes prosperity, well-being, and nobility.[2]

In 2018, Defortuna completed Jade Signature, also located in Sunny Isles Beach. For this project, Fortune International Group collaborated with the Pritzker Prize-winning architecture firm Herzog & de Meuron and interior designer Pierre-Yves Rochon.[9]

For this project, there was an architectural challenge to enhance the sun exposure to the pool area and eliminate the typical parking pedestal. The Defortunas then traveled to Switzerland to consult with Herzog & de Meuron to address these issues. The architects proposed rotating the design of the building approximately 15 degrees without altering the unit orientations, maximizing sun exposure and meeting the couple's design requests.[2][10]

Defortuna has been recognized for contributing to the internationalization of Miami and enhancing its reputation as a global business, trade, and vacation hub.[11] As a result, Fortune International Group has gained a strong presence in Latin America and has expanded into the European and Asian markets, with a special focus on Spain, Britain, France, Turkey, and Russia.

Defortuna's strategic vision and hands-on approach to managing day-to-day operations have contributed to Fortune International Group's involvement in integrating international architectural talent into local projects and launching notable developments.[12][10]

His upcoming projects include Ora by Casa Tua in Brickell, the St. Regis Residences in Sunny Isles Beach, the Ritz-Carlton Residences in Pompano Beach, Nexo Residences in North Miami Beach, The Residences at Mandarin Oriental Miami, Cipriani Residences Miami, Pagani Residences in North Bay Village, Bay Harbor Towers in Bay Harbor Islands, and more.[13]

Additionally, in 2022, Fortune International Group fortified its brokerage division, Fortune International Realty, by partnering with Christie's International.[14][15] Since then, the brokerage has expanded to over 600 agents across 11 Miami offices, with additional offices in Broward and Palm Beach counties.[16][7]

Family Matters and The Next Generation

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From its inception, the Defortuna family has played a role in the operations of Fortune International Group. Walter Defortuna, Edgardo's brother, previously led Fortune International Realty. Their sister, Monica Defortuna, actively contributes to the company's strategic direction as its vice president. His wife Ana Cristina serves as the Executive Vice President of Sales at Fortune International Group and is in charge of shaping the aesthetic and operational aspects of their development projects.[2][17]

Ana Cristina attended Boston University, where she double-majored in Finance and Business Administration, and later moved to Miami. She met Edgardo at a chamber of commerce event at the Defortuna home, and they eventually married. The couple has five children, with their eldest son currently a college student working part-time at Fortune's office. The family is involved in addressing affordable housing challenges in Miami-Dade County.[2][17]

Philanthropy and Civic Involvement

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Edgardo Defortuna is involved in philanthropic activities, including contributions to the arts, education, and healthcare. He supports the Pérez Art Museum Miami (PAMM) and participates in the governance of various educational and health organizations.[18] Defortuna serves on the advisory board of the University of Miami Business School[19], is a member of the Board of Trustees of Ransom Everglades School[20], and holds a position as a board member of the Argentine-U.S. Chamber of Commerce in Miami. His civic engagements focus on enhancing cultural and educational opportunities within the community.

Honors and Awards

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Throughout his career, Defortuna has received numerous accolades, including the 2014 CEO of the Year Apogee Award[21] and the 2021 Circle of Excellence Lifetime Achievement Award by South Florida Business and Wealth; the 2017 Florida Titan of the Year Award by Haute Residences[22]; the 2024 Developer of the Year by the RED Awards Florida; and, the 2023 South Florida Ultimate CEO recognition by the South Florida Business Journal[23]. His role in promoting international business ties and his innovative contributions to the Miami real estate market have also earned him international recognition, such as the Argentine Developer Who Succeeds Abroad Award issued by Expo Real Estate Awards in Argentina in 2023.

References

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  1. ^ a b Portal, Juan Castro Olivera / Islander News / Key Biscayne (October 28, 2022). "Edgardo Defortuna, Fortune International founder, sees bright future ahead after Christie's partnership". IslanderNews.com | Locally Owned & Operated.
  2. ^ a b c d e f g Kallergis, Katherine. "South Florida's condo whisperer". The Real Deal.
  3. ^ a b "Developer Edgardo Defortuna On Building Condos in Miami". June 6, 2023.
  4. ^ Jackson, Nancy Beth (2006-10-19). "Florida developer has his sights on "building momentum" - Properties - International Herald Tribune". The New York Times. ISSN 0362-4331. Retrieved 2024-07-28.
  5. ^ https://www.bizjournals.com/southflorida/news/2023/09/20/ultimate-ceo-insights-edgardo-defortuna-fortune.html
  6. ^ Jackson, Nancy Beth (2011-12-29). "Miami Real Estate Market Embraces Brazilians". The New York Times. ISSN 0362-4331. Retrieved 2024-07-28.
  7. ^ a b Modi, Priyanka; Hinsche, Kate (June 8, 2023). "Northbound: Fortune Christie's opens first Florida offices beyond Miami-Dade". The Real Deal.
  8. ^ COHEN BLATTER, LUCY (October 12, 2020). "Miami Developer on an Upcoming Inventory Glut, Understated Luxury and More".
  9. ^ Tzeses, Jennifer (2016-03-22). "The Never-Before-Seen $32.9 Million Penthouse in Herzog & de Meuron's Jade Signature Building". Architectural Digest. Retrieved 2024-07-28.
  10. ^ a b Limsky, Drew (May 6, 2020). "The secret to this developer's success is to help his buyers live their best lives". The Miami Herald.
  11. ^ Funcheon, Deirdra (March 13, 2023). "Who's building Miami: Edgardo Defortuna of Fortune International Group".
  12. ^ Jackson, Candace (October 3, 2013). "Miami's New White House". The Wall Street Journal.
  13. ^ "Edgaro Defortuna On Developing The Magic City".
  14. ^ Hourie, Ilya; Kallergis, Katherine (October 14, 2022). "Fortune partners with Christie's". The Real Deal.
  15. ^ Limsky, Drew (December 23, 2022). "Fortune International Realty's President Has News on Two Fronts".
  16. ^ https://www.bizjournals.com/southflorida/news/2024/04/26/fortune-christies-buys-kensington-company.html
  17. ^ a b Limsky, Drew (March 28, 2022). "Fortune International's Ana Cristina Defortuna Explains How European Luxury Is Moving Northward Along the Coast".
  18. ^ "Donors • Pérez Art Museum Miami". Pérez Art Museum Miami. Retrieved 2024-07-28.
  19. ^ "Advisory Council | Miami Herbert Business School | University of Miami". herbert.miami.edu. Retrieved 2024-07-28.
  20. ^ "Leadership". www.ransomeverglades.org. Retrieved 2024-07-28.
  21. ^ Staff, SFBW (2014-11-25). "2014 Apogee Awards". S. Florida Business & Wealth. Retrieved 2024-07-28.
  22. ^ "New York_AUG-SEPT 2017_Jada Pinkett Smith_ISSUE Haute Living by Haute Living - Issuu". issuu.com. 2017-09-19. Retrieved 2024-07-28.
  23. ^ "South Florida Business Journal". www.bizjournals.com. Retrieved 2024-07-28.
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