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 Secures $28M Construction Loan for URBANIA® Flagler 1st Ave and Brokers $117M Refinancing for Rivr Lofts as Downtown Fort Lauderdale Expands
Two major multifamily financing moves signal growing investor interest in downtown Fort Lauderdale
What happened: A $28 million construction loan has been arranged for the URBANIA® Flagler 1st Ave residential project in Flagler Village, and a $117 million three-year floating-rate refinancing closed for the newly completed Rivr Lofts tower. Both transactions were facilitated by a national capital markets advisory team, highlighting momentum in downtown Fort Lauderdale development and investment.
Key financing and project details
JLL Capital Markets arranged the $28 million construction loan for URBANIA® Flagler 1st Ave on behalf of the borrower, Continua Developments. The construction loan was provided through Goldman Sachs. JLL’s Debt Advisory team advising the borrower on that deal was led by senior staff responsible for structuring the financing. Continua entered the U.S. market after a strategic move in 2021 and selected South Florida following in-depth market analysis.
Separately, JLL Capital Markets also brokered a $117 million refinancing for Rivr Lofts, a 29-story, 352-unit Class A multifamily building at 307 SW 5th St. in the Tarpon River Entertainment & Design District. The refinancing has a three-year floating-rate structure and the lending bank was not publicly disclosed. Rivr Lofts was completed recently and is currently about 65 percent leased.
Why this matters for Fort Lauderdale
Downtown Fort Lauderdale spans roughly 2.2 square miles, less than 1 percent of Broward County’s land area, yet it accounts for about one-third of the county’s economic output and one-quarter of its jobs. The downtown supports approximately 224,000 jobs and generates a $43 billion annual economic impact according to a recent economic impact report by the local downtown development authority. That report also indicates downtown’s total economic impact grew 20 percent since 2022 and 44 percent since 2019.
The downtown is seeing an influx of tech and finance activity, with finance and professional services helping to position the area as a regional financial hub. About half of downtown jobs are in high-value sectors such as finance, technology, healthcare and professional services, a higher share than several Sunbelt peers. Office vacancy trends have also favored the area, with declines in vacancy reported for Fort Lauderdale and neighboring West Palm Beach while some peer cities have seen rising vacancies.
Related development activity and pipeline projects
Transformational projects are underway that could add office, residential and entertainment space and sustain the area’s growth. Notable developments include:
- T3 FAT Village by Hines and Urban Street Development, a timber-built, six-story Class AA office project planned with smart building systems and sustainable design. The first phase could deliver about 180,000 square feet of office space by 2027.
- A planned 60-acre global headquarters and technology-entertainment campus from a major entertainment-technology firm, including a 100,000-square-foot corporate campus slated to accommodate up to 1,000 employees and scheduled to open next year.
- Multiple residential and mixed-use projects including a 46-story design-driven tower, several luxury condominium projects, workforce housing deliveries and new apartment developments adding thousands of units to market inventory.
Rivr Lofts specifics
Rivr Lofts is a 29-story luxury high-rise with 352 units and about 231,113 rentable square feet. Unit mix includes studios, one- and two-bedroom residences averaging 649 square feet. Rents range from roughly $2,490 to $3,457, with an average near $2,846 according to market data. Unit features include exposed concrete ceilings, Italian-inspired kitchens with quartz counters, smart home tech, private patios or balconies, and energy-efficient appliances. Building amenities include a rooftop pool with river and ocean views, a rooftop lounge, fitness center, a 3,000-square-foot coworking space, barbecue and dining areas, package lockers and a coffee bar. The property provides 300 parking spaces in a structured garage, with covered parking available for an additional fee.
Multifamily market context
Recent market reports show multifamily completions in the broader Fort Lauderdale area rose to 5,559 units, expanding market inventory by about 2.7 percent. Vacancy moved down to nearly 5 percent as renter demand for new apartments stayed healthy and net absorption strengthened in early 2025.
Who’s involved
JLL Capital Markets, a global capital solutions provider with thousands of specialists and offices across nearly 50 countries, handled both financings. Continua Developments is expanding into South Florida as its first U.S. market following a 30-year international history. Moderno Development Group developed Rivr Lofts, having assembled the site and secured entitlements in preceding years and previously tapped construction financing from other lenders during development.
Frequently Asked Questions
What did JLL arrange for URBANIA® Flagler 1st Ave?
JLL arranged a $28 million construction loan
What are the details of the Rivr Lofts refinancing?
Rivr Lofts secured a $117 million65 percent leased.
How is downtown Fort Lauderdale performing economically?
Downtown Fort Lauderdale is a small geographic area with outsized economic impact, supporting roughly 224,000 jobs and generating about $43 billion
What development projects will add office and residential space?
Major pipeline projects include the timber-built T3 office campus in FAT Village, a large corporate campus for a tech-entertainment firm, design-driven residential towers and several new apartment and mixed-use developments. These projects are expected to add office capacity, housing options and amenities that support continued downtown growth.
Where can I find the downtown economic impact report?
The downtown development authority has published an economic impact report that details employment, output and growth trends for the area.
Quick reference table: Key features
| Item | URBANIA® Flagler 1st Ave | Rivr Lofts | Downtown Fort Lauderdale |
|---|---|---|---|
| Financing | $28M construction loan via Goldman Sachs (arranged by capital markets team) | $117M refinancing, three-year floating-rate (lender undisclosed) | Multiple private financings supporting new development |
| Developer | Continua Developments (U.S. expansion) | Moderno Development Group | Various national and local developers |
| Size / Units | Residential development in Flagler Village (project-level details ongoing) | 29 stories, 352 units, ~231,113 rentable sq ft | 2.2 square miles, growing multifamily completions |
| Occupancy / Leasing | Under development | About 65% leased | Healthy renter demand, market vacancy near 5% |
| Amenities / Features | Planned quality residential community | Rooftop pool, coworking, fitness, retail, smart units | Walkable districts, creative hubs like FAT Village, new office and housing pipeline |
| Market impact | Part of Continua’s first U.S. project roll-out in South Florida | Adds high-end rental product near business district and Las Olas | Supports ~224,000 jobs and ~$43B annual economic impact |
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 TX News
TEXAS STAFF WRITER The TEXAS STAFF WRITER represents the experienced team at constructiontxnews.com, your go-to source for actionable local news and information in Texas 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 Texas Construction Expo, major infrastructure unveilings, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of Texas and the Texas Building Branch, plus leading businesses in construction and real estate that power the local economy such as Austin Commercial and CMiC Global. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
