OceanLand Obtains $96M Financing for Fort Lauderdale Condos

Southern Realty Trust and affiliate Sunrise Realty Trust committed $90 million of a $96.0 million senior loan for the development of the Sixth & Rio condominium project in Fort Lauderdale. OceanLand Investments is developing the waterfront project.

Sixth & Rio is a to-be-constructed 94-unit high-rise condominium development located on the New River, at the intersection of Rio Vista, Riverwalk, and Las Olas. They will feature a mix of townhomes and condominium units. The development will provide residents with an array of amenities, including an infinity pool, a clubroom, a fitness center, a commercial kitchen, a co-working suite, and complementary water-trolley service to the heart of Las Olas. 

OceanLand says it strategically acquires and develops prime urban and waterfront residences on previously underutilized sites in South Florida. It has also completed an office project.