Moderno Development Group Secures $117 Million Refinancing for Rivr Lofts in Fort Lauderdale
Moderno Development Group has closed on a $117 million loan to refinance Rivr Lofts, a newly completed 352-unit multifamily development located in Fort Lauderdale, Florida.
JLL arranged the three-year, floating-rate loan. The capital markets debt advisory team was led by Scott Aiese, Alex Staikos, and Michael DiCosimo, who represented the borrower in the transaction.
Rivr Lofts, delivered in November 2024 and currently 65% leased, is situated at 307 SW 5th Street in Fort Lauderdale’s Tarpon River Entertainment & Design District. The property features a collection of studio, one-, and two-bedroom residences, averaging 649 square feet.
Amenities include Fort Lauderdale’s tallest rooftop pool offering panoramic views of the river, city, and ocean, a fully equipped fitness center, a rooftop lounge and clubhouse for sunset views, and a 3,000-square-foot coworking space.
Moderno Development Group currently develops and self-manages a portfolio exceeding $500 million, encompassing high-rise residential towers, adaptive reuse projects, and urban townhouses.
