OceanLand Investments has secured $96 million in financing for the development of Sixth & Rio, a luxury condominium project located on the New River in Fort Lauderdale. The funding was provided by Southern Realty Trust and its affiliate Sunrise Realty Trust, who committed $90 million towards the project.
Sixth & Rio will consist of 94 units and will be situated at the intersection of Rio Vista, Riverwalk, and Las Olas. The development will feature a mix of townhomes and condominiums with upscale amenities such as an infinity pool, clubroom, fitness center, commercial kitchen, co-working suite,and water-trolley service to Las Olas.
According to OceanLand Investments’ strategy statement,the company specializes in acquiring underutilized sites in South Florida’s prime urban and waterfront areas for residential developments. In addition to Sixth & Rio,OceanLand has also completed an office project.
