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Cymbal DLT Wraps Up $32M to Start Fort Lauderdale Mixed-Use Development
Cymbal DLT Companies have closed on a $32-million loan that will allow the company to prepare for the groundbreaking of its Riverwalk mixed-use development project in the Tarpon River neighborhood of Fort Lauderdale, FL.
The lender, 3650 REIT, also funded the construction of Cymbal DLT’s Oasis Pointe Residences in Dania Beach.
The first phase of the project, Riverwalk Raintree Residences, is slated to break ground on its first building in summer 2023. It will include two eco-friendly, mixed-use multifamily apartment towers (28 stories and 29 stories, respectively).
The second phase of the Riverwalk project will include a branded condominium tower, a branded full-service hotel, a branded yacht valet and yacht club, membership clubs, and significant food and beverage operations. Cymbal DLT is starting construction effort with preparations to relocate a 100-year-old raintree to its new home on the Riverwalk.
- ◦Development
