With his partner, Russian-born billionaire Leonard Blavatnik, he has bought up four city blocks along South Beach's Collins Avenue, including the '40s-era Saxony Hotel, and enlisted a roster of A-list talent to construct another Faena district.
Norbest, an affiliate of Alpha Access Renova, which is controlled by Russian oligarchs Victor Vekselberg, Mikhail Fridman and Leonard Blavatnik, had acquired stakes in the Hawler and Sindi Amedi blocks in 2007.