Moderno Development Group has secured $117 million in financing for Rivr Lofts, a newly delivered 352-unit, class A multifamily property located in downtown Fort Lauderdale, Fla.
JLL worked on behalf of the borrower in arranging the three-year, floating-rate loan. Based in Miami and Fort Lauderdale, Moderno Development Group develops and self-manages more than $500 million in real estate projects ranging from high-rise apartment buildings to adaptive reuse urban warehouses and townhouses.
The newly constructed Rivr Lofts is located at 307 SW 5th St. in Fort Lauderdale's Tarpon River Entertainment & Design District. The property benefits from its position near downtown Fort Lauderdale's business district and Las Olas Boulevard's upscale shopping and dining, and it offers residents convenient access to major employers.
Rivr Lofts, completed in November 2024 and currently 65 percent leased, offers a mix of studio, one-bedroom and two-bedroom residences averagin
