Fort Lauderdale, Florida, September 16, 2025
News Summary
JLL Capital Markets structured two major multifamily financings as downtown Fort Lauderdale continues to expand. The firm secured a $28 million construction loan through Goldman Sachs for Continua Developments’ URBANIA® Flagler 1st Ave in Flagler Village and arranged a $117 million three-year floating-rate refinancing for Rivr Lofts, a newly completed 29-story, 352-unit luxury tower that reported roughly 65% leasing. The deals underscore growing investor demand for South Florida multifamily assets amid rising deliveries, strong net absorption, and continued downtown development driven by finance, tech and creative-sector projects.
JLL Arranges $28M Goldman Sachs Construction Loan for URBANIA® Flagler 1st Ave and Brokers $117M Refinancing for Rivr Lofts as Downtown Fort Lauderdale Expands
A pair of major multifamily financing moves were completed as downtown Fort Lauderdale continues to attract development and jobs. JLL Capital Markets structured a $28 million construction loan through Goldman Sachs for a new residential project, and also arranged a $117 million refinancing for a recently finished luxury high-rise in the downtown area.
Top-line financing and projects
The $28 million construction loan supports the URBANIA® Flagler 1st Ave development in the Flagler Village neighborhood. The borrower is Continua Developments, which selected South Florida in 2021 as its first U.S. market after three decades as an international residential developer. JLL’s debt advisory team handled the transaction and worked with Goldman Sachs to secure and structure the construction financing.
Separately, JLL arranged a $117 million three-year, floating-rate refinancing for Rivr Lofts, a newly completed 29-story, 352-unit Class A luxury apartment tower. The property sits in the Tarpon River Entertainment & Design District and was finished in November. At the time of the financing, Rivr Lofts was about 65 percent leased.
Who was involved and what it means
JLL’s debt advisory teams led both assignments. The URBANIA transaction team included senior JLL debt advisers who supported Continua’s U.S. entry and helped structure the loan through Goldman Sachs. Continua’s leadership said the financing marks an important step in executing its vision for high-quality residential projects in South Florida.
For Rivr Lofts, the refinancing team guided Moderno Development Group through a new three-year facility. The refinancing lender was not disclosed. Moderno previously closed on construction financing from Square Mile Capital and Simmons Bank in 2022 while assembling and permitting the site for the tower.
Rivr Lofts: features and leasing
Rivr Lofts offers a mix of studios and one- and two-bedroom homes averaging about 649 square feet. The building contains roughly 231,113 rentable square feet, with rents reported in the mid to upper range for downtown, averaging near $2,846. Many units include exposed concrete ceilings, Italian-inspired kitchens with quartz counters, smart home systems, energy-efficient appliances and private patios or balconies. Select homes also offer floor-to-ceiling windows and 10-foot ceilings.
Building amenities include one of the highest rooftop pools in Fort Lauderdale with river, city and ocean views, a rooftop lounge and clubhouse, fitness center, a 3,000-square-foot coworking space, and dining and entertainment areas. The building includes about 300 parking spaces in a multi-level garage, with covered parking available for an extra fee.
Downtown Fort Lauderdale context
The recent deals come as downtown Fort Lauderdale gains momentum as a regional hub for finance, tech and professional services. The downtown core occupies roughly 2.2 square miles — under 1 percent of Broward County’s land — yet it produces about one-third of the county’s economic output and supports about 224,000 jobs. The area drives an estimated $43 billion in annual economic impact and has grown rapidly over recent years.
A local economic impact report shows downtown’s total impact rose about 20 percent since 2022 and surged 44 percent since 2019. About half of downtown jobs are in high-value fields like finance, technology, healthcare and professional services. The downtown workforce also includes a larger share of early- to mid-career workers than nearby peer cities, which local leaders link to more close-in housing options and relatively lower Class A office rents.
New and ongoing developments that matter
Several transformational projects are underway that could keep momentum going. In the FAT Village creative district, a timber-built, six-story Class AA office campus called T3 FAT Village is planned, with its first phase potentially delivering about 180,000 square feet of office space by 2027. A large tech and entertainment campus is also planned nearby, with a 60-acre global headquarters project expected to open next year and accommodate up to 1,000 employees.
Other notable moves include a high-rise residential tower designed by a noted Italian design house, a 14-story luxury condominium project scheduled for later completion, and an eight-story, 400-unit apartment project with a significant share of workforce units targeted for households earning between 80 and 120 percent of area median income.
Market supply and demand
Multifamily deliveries in Fort Lauderdale have risen, with recent totals showing about 5,559 units added over a 12-month window — the fastest pace since 2021 and an inventory expansion near 2.7 percent. Net absorption for the market began 2025 on a strong note and vacancy rates fell, reflecting steady renter demand for new apartments.
Taken together, the new financing deals, ongoing construction and strong market fundamentals point to continued development interest in downtown Fort Lauderdale from both domestic and international investors.
Frequently Asked Questions
What financing was arranged for URBANIA® Flagler 1st Ave?
The project secured a $28 million construction loan provided through Goldman Sachs and arranged by JLL Capital Markets on behalf of Continua Developments.
What is the Rivr Lofts refinancing?
Moderno Development Group closed on a $117 million three-year, floating-rate refinancing arranged by JLL for Rivr Lofts, a 29-story, 352-unit luxury building in downtown Fort Lauderdale. The refinancing lender was not publicly disclosed.
How does downtown Fort Lauderdale’s economy look?
Downtown covers about 2.2 square miles but contributes roughly one-third of Broward County’s economic output, supports around 224,000 jobs and generates about $43 billion in annual economic impact. The area has seen strong growth in recent years and a rising share of high-value industries.
What major projects are supporting growth?
Key projects include the T3 FAT Village office campus, a 60-acre tech and entertainment headquarters, several residential towers and mixed-use developments, plus new condo and apartment projects with workforce-unit components.
What does this mean for renters and investors?
Renter demand for new apartments remains healthy, vacancy rates have tightened, and new supply is coming online. Investors continue to finance and finish projects, signaling ongoing interest in the market’s near-term prospects.
Key Features at a Glance
| Project | Deal | Location | Size / Units | Lender(s) | Status | Notable Features |
|---|---|---|---|---|---|---|
| URBANIA® Flagler 1st Ave | $28M construction loan | Flagler Village, Fort Lauderdale | Residential development (site-level) | Goldman Sachs | Under construction | Continua Developments’ first U.S. project; South Florida chosen for expansion |
| Rivr Lofts | $117M refinancing | Tarpon River Entertainment & Design District | 29 stories, 352 units | Not disclosed | Completed (November); 65% leased | Luxury amenities, rooftop pool, coworking space, average rent near $2,846 |
| Downtown Fort Lauderdale | Market context | 2.2 sq. miles | Supports ~224,000 jobs | Multiple public/private partners | Growing impact | $43B annual impact; tech and finance hub; new office and residential projects |
Deeper Dive: News & Info About This Topic
Additional Resources
- MultiHousingNews: Moderno refinances Fort Lauderdale luxury high-rise
- Wikipedia: Fort Lauderdale
- YieldPro: URBANIA® Flagler 1st Ave (URBANIA)
- Google Search: URBANIA Flagler 1st Ave
- Refresh Miami: Fort Lauderdale on the rise — tech & finance report
- Google Scholar: Fort Lauderdale downtown economic impact
- South Florida Agent Magazine: Andare financing
- Encyclopedia Britannica: Flagler Village
- Zacks (media): Related finance/market article
- Google News: Fort Lauderdale real estate financing
Author: Construction FL News
FLORIDA STAFF WRITER The FLORIDA STAFF WRITER represents the experienced team at constructionflnews.com, your go-to source for actionable local news and information in Florida and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Florida Build Expo, major infrastructure projects, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated Builders and Contractors of Florida and the Florida Home Builders Association, plus leading businesses in construction and legal services that power the local economy such as CMiC Global and Shutts & Bowen LLP. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructiontxnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
