Alta Developers Receives $140M For Fort Lauderdale High-Rise
It's the firm's third project in the city.
Alta Developers has obtained a $140.2 million senior construction loan for the development Alta New River, a 35-story, 400-unit apartment tower being built in Fort Lauderdale, Fla. It’s the company’s third project in the city.
JVP Management sourced and structured the loan directly with Alta for the development, which is located at 100 SW Sixth Street. Completion is slated for the fourth quarter of 2028.
Community amenities at Alta New River will include a resort-style pool deck with cabanas and chaise lounges, an outdoor kitchen and a barbecue area. Other common-area amenities include a fitness center with dedicated Pilates and strength-training spaces, a coworking lounge, club rooms and a spa. The community also has a nine-story parking garage.
The property is two blocks from the New River Riverwalk and a short walk from Las Olas Boulevard. The Fort Lauderdale Brightline station is less than a mile away. The station offers high-speed rail service to Miami, West Palm Beach and Orlando.
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Kaufmann Construction is the general contractor for Alta New River, with Dorsky + Yue International serving as architects. One Line Design Studio is leading interior design, and Greystar will manage the property upon completion.
JVP Principal Anthony Shaskus, Director Aaron Jurist and Advisor Liam Dai of JVP Management originated the loan.
South Florida multifamily stays still
South Florida is still seeing considerable new product. Developers added 6,784 units, or 1.7 percent of existing stock, in 2026 in the area through August, according to Yardi Matrix data. The area outpaced the nation by 40 basis points in that metric.
In October, Fortune International Group and KAR Properties obtained an $817 million construction loan for Faena Residences Miami, a 406-unit, waterfront condominium project along the Miami River. TYKO Capital provided the financing. That deal marks the largest condominium construction loan ever recorded in Florida, according to the developers.
That same month, Fortune International Group and Château Group obtained $463 million from Madison Realty Capital for St. Regis Residences, a 320-unit luxury condo development in Sunny Isles Beach, Fla.
