Edgardo Defortuna

Edgardo Defortuna
Edgardo Defortuna
Born	(1955-12-10)December 10, 1955
Occupation	Real estate developer
Employer	Fortune International Group
Partner	Ana Cristina Defortuna

Edgardo Defortuna (born December 10, 1955) is a prominent figure in the high-end real estate sector with over 40 years of experience and a noted capacity for global perspective. As the President, CEO, and Founder of Fortune International Group, his firm is widely recognized throughout South Florida, Latin America, and Europe for its expertise in high-end luxury real estate. Defortuna is fluent in both English and Spanish.

Early Life and Education

Edgardo Defortuna was born in Buenos Aires, Argentina. At the age of three, his family relocated to Córdoba, where he spent his early years. 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. This relocation, initially intended to be temporary to accompany his sister who was pursuing medical studies in the U.S., became permanent when he recognized the opportunities available in the country.

Following his relocation, Defortuna enrolled at the University of Miami, where he earned his MBA. In 1983, he began his career in real estate by managing properties for family and friends and acquiring a small brokerage in the Brickell area, marking the onset of his distinguished career in the industry.

Career

Edgardo Defortuna is frequently referred to as Miami's "condo whisperer," noted for his collaborative approach in the Miami real estate market. Unlike some of his peers, Defortuna prioritizes strategic partnerships and efficient project retooling to accelerate sales processes. His colleagues often cite his preference for listening over speaking as a key to his success in managing the volatile South Florida real estate sector. This approach contrasts with more traditional strategies that emphasize rapid expansion and high visibility. Defortuna's reserved demeanor and thoughtful engagement in projects exemplify a business philosophy that values sustainable growth and stakeholder value above mere scale.

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.'

During this time, Defortuna recognized an underserved 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. He also traveled extensively across Argentina, Brazil, and Colombia to market his services and establish business relationships with local brokers. This proactive approach helped transform many buyers and investors into long-term partners and friends.

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

The brokerage ambitiously expanded into development with the Jade Residences at Brickell Bay project. Despite market uncertainties following the events of September 11, 2001, 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, highlighting his debut in major development ventures. Each subsequent project has shown increased levels of sophistication, further cementing his influence in the industry.

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, named after Defortuna's late father, José Andrés Defortuna, symbolizes prosperity, well-being, and nobility—reflecting the familial connotation of fortune.

In 2018, Defortuna further elevated the Jade brand with the completion of 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 renowned interior designer Pierre-Yves Rochon. Despite initial doubts about the feasibility of achieving the necessary sales prices to cover the high costs of employing world-class architects and designers, Defortuna and Ana Cristina were committed to the project's success.

A significant architectural challenge was to enhance the sun exposure to the pool area and eliminate the typical parking pedestal. To address these issues, the Defortunas traveled to Switzerland to consult with Herzog & de Meuron. The architects proposed rotating the design of the building approximately 15 degrees without altering the unit orientations, effectively maximizing sun exposure and meeting the couple's design aspirations.

Unlike its competitors in development, resale brokerage, and new development sales and marketing, Fortune International Group stands out as a comprehensive leader in all aspects of the real estate industry.

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

Moreover, Defortuna's strategic vision and hands-on approach to managing day-to-day operations have significantly contributed to Fortune International Group’s reputation as a pioneer in integrating international architectural talent into local projects, launching landmark developments.

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.

Additionally, in 2022, Fortune International Group fortified its brokerage division, Fortune International Realty, by partnering with Christie’s International, aiming to further penetrate the luxury resale market. Since then, the brokerage has grown significantly, now boasting over 600 agents across 11 Miami offices, with further with further expansions into Broward and Palm Beach counties.

Family Matters and The Next Generation

From its inception, the Defortuna family has played a significant role in the operations of Fortune International Group. Walter Defortuna, Edgardo's brother, previously led Fortune International Realty, playing a key role in its expansion before reducing his involvement. Their sister, Monica Defortuna, actively contributes to the company's strategic direction as its Vice President.

Ana Cristina, serving as the Executive Vice President of Sales at Fortune International Group, has been central to shaping the aesthetic and operational atmosphere of their projects. Developer Shahab Karmely has noted her pivotal role in defining the style and feel of the developments.

In their Jade Signature project in Sunny Isles Beach, Ana Cristina and Edgardo collaborated with renowned interior designer Pierre-Yves Rochon, who they met after experiencing his work at the Four Seasons Georges V in Paris. Following their agreement, Herzog & de Meuron, a Pritzker Prize-winning architectural firm, joined the project as architects, a decision made during the Defortunas' visit to Basel, Switzerland.

For the Ritz-Carlton Residences in Sunny Isles Beach, Ana Cristina enlisted Michele Bonan, known for his design work with the Cipriani restaurant chain and J.K. Place hotels. The project's success led to a continued partnership with the Ritz-Carlton and Oak Capital for a new development in Pompano Beach, scheduled for completion in 2025.

For the Ritz-Carlton Residences, Pompano Beach, Ana Cristina selected Piero Lissoni to lead the architectural design, based on his previous successful engagement with the Ritz-Carlton Residences, Miami Beach. Lissoni's influence extends to his roles with noted firms such as B&B Italia, Boffi, Cassina, and Cappellini.

Ana Cristina's personal journey began at Boston University, where she double majored in Finance and Business Administration, eventually moving to Miami. A chance meeting representing her father at a chamber of commerce event at the Defortuna home led to her meeting and subsequently marrying Edgardo. The couple has five children, fostering a deep family involvement in the business. Their eldest son is currently a college student working part-time at Fortune’s office, contributing a youthful perspective. The family is actively engaged in addressing affordable housing challenges in Miami-Dade County, reflecting their commitment to community concerns.

Philanthropy and Civic Involvement

Edgardo Defortuna's philanthropic activities are extensive, encompassing substantial contributions to the arts, education, and healthcare. He is a prominent supporter of the Pérez Art Museum Miami (PAMM) and participates actively in the governance of various educational and health organizations. Defortuna serves on the advisory board of the University of Miami Business School, is a member of the Board of Trustees of Ransom Everglades School and holds a position as a board member of the Argentine-U.S. Chamber of Commerce in Miami. His civic engagements demonstrate his dedication to enhancing cultural and educational opportunities within the community.

Honors and Awards

Throughout his career, Defortuna has received numerous accolades, including the 2014 CEO of the Year Apogee Award 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; 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. 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 in 2023.

References

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