Moderno Refis Luxury High-Rise in Fort Lauderdale
The property includes the city's highest rooftop pool.
Moderno Development Group has closed on a $117 million three-year, floating-rate refinancing loan for Rivr Lofts, its newly completed 352-unit luxury high-rise in downtown Fort Lauderdale, Fla. The loan was arranged by JLL Capital Markets.
The 29-story Class A multifamily property is located at 307 SW 5th St. in Fort Lauderdale’s Tarpon River Entertainment & Design District. The building was completed in November and is currently 65 percent leased.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Scott Aiese, Alex Staikos and Michael DiCosimo.
The lender was not disclosed. Moderno previously received a $102 million construction loan from Square Mile Capital for the project in May 2022. The developer also secured a $79.1 million construction loan in May 2022 from Simmons Bank, according to Yardi research data.
Assembling Rivr Lofts
Doron Broman, CEO & founder of Miami and Fort Lauderdale-based Moderno, assembled the 1-acre site in 2018 and secured entitlements for the Rivr Lofts in 2021. The property is near downtown Fort Lauderdale’s business district, as well as Las Olas Boulevard’ shopping and dining offerings.
The building, which has 2,700 square feet of retail, has mix of studios, one- and two-bedroom residences averaging 649 square feet across 231,113 rentable square feet. Rents range from $2,490 to $3,457, with an average of $2,846, according to Yardi Matrix data.
Units feature exposed concrete ceilings, Italian-inspired kitchens with quartz countertops, smart home technology, private patios or balconies and energy-efficient appliances including washers and dryers. Select apartments have floor-to-ceiling windows and 10-foot ceilings.
Amenities include Fort Lauderdale’s highest rooftop pool with river, city and ocean views, a rooftop lounge and clubhouse, a fitness center, 3,000-square-foot coworking space, barbecue and dining entertainment area, package lockers and a coffee bar with barista service. Rivr Lofts has controlled access and 300 parking spaces in a multi-level structure. Covered parking is available for an additional fee.
Active development, rental market
The Fort Lauderdale has seen new completions rise to 5,559, which is 820 apartments above the previous 12-month total, the fastest pace since 2021, according to Institutional Property Advisors’ second-quarter 2025 market report. The deliveries expanded the inventory by 2.7 percent. IPA stated the Central Lauderdale, Hollywood and Plantation submarkets each saw more than 1,100 units during the period. The market began 2025 with its strongest three-month net absorption total since 2021, driven by employment gains in the region. Vacancy fell 60 basis points to nearly 5 percent as of March as renter appetite for new apartments remained healthy, IPA reported.
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In recent months, several new residential projects have been announced or broken ground in the Fort Lauderdale market. In May, Related Group, in partnership with Italian design house Pininfarina, broke ground on Andare Residences Design by Pininfarina, a 46-story, 163-unit residential tower. Upon completion in 2027, it will be the tallest residential structure in Broward County.
Several months earlier, Integra Investments and Flying Point announced plans to develop Sereno Fort Lauderdale, a 14-story, 76-unit luxury condominium project that will encompass approximately 230,000 square feet. The project, which is Integra Investment’s first in the market, is scheduled for completion in 2028.
Also in March, Affiliated Development began construction on The Era, an eight-story, 400-unit apartment project in the South RAC area of downtown Fort Lauderdale. At least 210 of the apartments will be workforce units for residents earning between 80 and 120 percent of Area Median Income.
