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
Key financing moves landed in downtown Fort Lauderdale as JLL Capital Markets arranged a $28 million construction loan for a new residential project and brokered a $117 million refinancing for a recently completed luxury tower. The construction loan was provided through Goldman Sachs for Continua Developments’ URBANIA® Flagler 1st Ave. Separately, JLL closed a three-year, floating-rate $117 million refinancing for Rivr Lofts on behalf of Moderno Development Group.
What was financed and who is behind it
The $28 million construction facility supports URBANIA® Flagler 1st Ave, a new residential development in the Flagler Village neighborhood. JLL Capital Markets’ Debt Advisory team structured the deal on behalf of the borrower, Continua Developments, with the team led by senior firm representatives. Continua chose South Florida after a strategic move in 2021 to expand into the United States, selecting the region after detailed market analysis.
The $117 million refinancing backs Rivr Lofts, a newly completed 29-story, 352-unit Class A multifamily tower in the Tarpon River Entertainment & Design District at 307 SW 5th St. The refinancing was arranged by JLL Capital Markets with a debt advisory team representing the borrower led by senior professionals at the firm. The lender on that loan was not publicly disclosed.
Why these deals matter now
Both moves come as downtown Fort Lauderdale signals rapid economic momentum. A recent economic impact report from the Fort Lauderdale Downtown Development Authority shows downtown supports roughly 224,000 jobs, drives a $43 billion annual economic impact and accounts for about one-third of Broward County’s economic output despite covering less than 1% of the county’s land mass. The downtown’s total economic impact rose 20% since 2022 and 44% since 2019, reflecting growing activity and new investment.
The DDA report highlights the area as a growing hub for tech and innovation with finance and professional services playing a major role. About half of downtown jobs are in high-value sectors like finance, technology, healthcare and professional services, a higher share than several comparable Sunbelt cities. Office vacancy trends have declined in Fort Lauderdale and nearby West Palm Beach, even as some peer markets have seen substantial increases.
Project and market details — URBANIA® Flagler 1st Ave
URBANIA® Flagler 1st Ave marks Continua’s first project in Fort Lauderdale, reflecting the developer’s wider plan to grow in South Florida. The construction loan from Goldman Sachs will fund work in the Flagler Village neighborhood, a core area of downtown that has been attracting creative offices, multifamily housing and mixed-use projects.
Project and market details — Rivr Lofts
Rivr Lofts opened recently and was completed in November. The building is currently about 65 percent leased. The development features studios and one- and two-bedroom residences averaging 649 square feet over 231,113 rentable square feet, with rents ranging from roughly $2,490 to $3,457 and an average rent near $2,846. Unit finishes include exposed concrete ceilings, Italian-inspired kitchens with quartz counters, smart home systems, private patios or balconies and energy-efficient appliances. Select units have floor-to-ceiling windows and 10-foot ceilings.
Amenities at Rivr Lofts include Fort Lauderdale’s highest rooftop pool with river, city and ocean views, a rooftop lounge and clubhouse, fitness center, a 3,000-square-foot coworking space, a barbecue and dining area, package lockers and a coffee bar with barista service. The property offers 300 parking spaces in a multi-level structure, with covered parking available for an additional fee.
Wider development activity and demand
New construction and deliveries in Fort Lauderdale are at a brisk pace. Multifamily completions reached 5,559 units, with the surge driven by demand and employment gains. Market vacancy fell to nearly 5% as of March in the latest market snapshot, and renter demand for new apartments remains strong. Several other notable projects are underway or recently started, including a timber-built, six-story Class AA T3 office in FAT Village expected to deliver an initial phase of 180,000 square feet of office space, and a planned global headquarters for a technology and entertainment company on a 60-acre site that will include a 100,000-square-foot corporate campus able to house up to 1,000 employees next year.
Additional residential projects include a 46-story design-focused tower set to rise to become the tallest residential building in the county upon completion, a 14-story luxury condominium project, an eight-story 400-unit apartment project with a notable share of workforce units, and other mixed-use developments that will add housing and office options near downtown.
Takeaway
These two financing transactions illustrate the mix of capital and building activity fueling downtown Fort Lauderdale’s growth. Construction and refinancing deals for housing and mixed-use projects are moving forward as employment and investment trends keep demand high for new apartments, offices and live-work amenities in the core of the city.
Frequently Asked Questions
What projects were financed?
JLL arranged a $28 million construction loan for URBANIA® Flagler 1st Ave in Flagler Village and brokered a $117 million refinancing for Rivr Lofts in the Tarpon River area.
Who provided the construction loan for URBANIA®?
The construction loan for URBANIA® Flagler 1st Ave was provided through Goldman Sachs and arranged by JLL on behalf of Continua Developments.
What is Rivr Lofts and how leased is it?
Rivr Lofts is a 29-story, 352-unit Class A multifamily tower completed in November and was about 65% leased at the time of the financing announcement.
How is downtown Fort Lauderdale performing?
Downtown supports roughly 224,000 jobs, contributes about $43 billion in annual economic impact, and has seen a 20% rise in total economic impact since 2022, signaling strong growth across jobs, investment and new projects.
How many new apartments were delivered recently?
About 5,559 multifamily units were completed in the most recent reporting period, the fastest pace since 2021 and expanding market inventory by roughly 2.7%.
Key Features Table
| Feature | URBANIA® Flagler 1st Ave | Rivr Lofts |
|---|---|---|
| Financing | $28 million construction loan (Goldman Sachs) | $117 million three-year floating-rate refinancing (lender undisclosed) |
| Developer / Borrower | Continua Developments | Moderno Development Group |
| Location | Flagler Village, downtown Fort Lauderdale | 307 SW 5th St., Tarpon River Entertainment & Design District |
| Building | Residential development (new market entry) | 29-story, 352-unit Class A multifamily tower |
| Status | Under construction (financing secured) | Completed in November; 65% leased |
| Average Unit Size / Rent | Not disclosed | Average 649 sq ft; average rent ~$2,846 |
| Amenities | Planned mixed-use neighborhood benefits | Rooftop pool, lounge, fitness center, coworking space, retail, parking |
| Market context | Downtown Fort Lauderdale: ~224,000 jobs; $43B annual impact; recent surge in new deliveries and job-driven demand. | |
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 NY News
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