Moderno Development Group has successfully closed on a $117 million refinancing loan for Rivr Lofts, a newly completed 352-unit luxury high-rise in downtown Fort Lauderdale, Florida. The three-year, floating-rate loan was arranged by JLL Capital Markets, marking a significant financial milestone for the upscale multifamily property.
Key Takeaways
- Rivr Lofts, a 29-story luxury high-rise in Fort Lauderdale, has secured $117 million in refinancing.
- The property, completed in November, is already 65 percent leased.
- The loan was arranged by JLL Capital Markets.
Rivr Lofts: A Premier Residential Offering
Rivr Lofts, situated at 307 SW 5th St. in Fort Lauderdale’s Tarpon River Entertainment & Design District, stands as a 29-story Class A multifamily property. The building, which was completed in November, offers a mix of studio, one-, and two-bedroom residences. Units average 649 square feet and feature modern amenities such as Italian-inspired kitchens with quartz countertops, smart home technology, private balconies, and energy-efficient appliances. Select apartments boast floor-to-ceiling windows and 10-foot ceilings.
The property also includes 2,700 square feet of retail space. Rents at Rivr Lofts range from $2,490 to $3,457, with an average of $2,846.
Luxury Amenities and Strategic Location
Residents of Rivr Lofts can enjoy a suite of high-end amenities, including Fort Lauderdale’s highest rooftop pool offering panoramic river, city, and ocean views. Other facilities include a rooftop lounge and clubhouse, a state-of-the-art fitness center, a 3,000-square-foot coworking space, barbecue and dining areas, package lockers, and a coffee bar with barista service. The building ensures controlled access and provides 300 parking spaces in a multi-level structure, with covered parking available for an additional fee.
Developed by Miami and Fort Lauderdale-based Moderno Development Group, the 1-acre site was assembled in 2018, with entitlements secured in 2021. The property’s location offers convenient access to downtown Fort Lauderdale’s business district and the vibrant shopping and dining scene of Las Olas Boulevard.
Fort Lauderdale’s Dynamic Rental Market
The Fort Lauderdale rental market is experiencing robust activity, with new apartment completions rising significantly. According to a second-quarter 2025 market report, the area saw 5,559 new completions, an 820-apartment increase over the previous 12 months, representing the fastest pace since 2021. This expansion has increased inventory by 2.7 percent. The market began 2025 with strong net absorption, driven by regional employment gains, leading to a vacancy rate decrease to nearly 5 percent as of March.
Several new residential projects are underway or have been announced in Fort Lauderdale, including Related Group’s Andare Residences Design by Pininfarina and Integra Investments and Flying Point’s Sereno Fort Lauderdale. Affiliated Development is also constructing The Era, a substantial apartment project featuring workforce housing units.