OceanLand Secures $96M for Fort Lauderdale Condo Project
The new development is scheduled for delivery in 2026.
OceanLand Investments has received a $96 million loan package for the development of Sixth & Rio, a condominium project in Fort Lauderdale, Fla. Southern Realty Trust Inc., partially through affiliates, together with Invictus Real Estate Partners, contributed to the financing. JLL arranged the transaction.
The development team includes FSMY Architects + Planners and AM Studio as designers, while the interior designer is ID & Design International and Interiors by Steven G. With site work already underway, Sixth & Rio is scheduled to be delivered by 2026. Stiles Construction is the general contractor in charge, according to Broward County public records.
Sixth & Rio will be a luxury waterfront high-rise building that will include 94 residences in a mix of townhomes and condo units. Floorplans include one- to four-bedroom options ranging from 819 square feet to 2,446 square feet.
Rising eight stories along the New River, at 501 Southeast 6th Ave., the residences will feature floor-to-ceiling windows, secondary and primary bathrooms, kitchens with Sub-Zero and Wolf appliances and cabinetry by Italkraft and balconies. Residence prices will range from $900,000 to more than $3 million.
The amenity package at Sixth & Rio will include a rooftop resort-style swimming pool, a fitness center, a resident clubroom, a wine bar and a pool table, a commercial kitchen, a coworking suite, and complementary water-trolley service to the heart of Las Olas.
Sixth & Rio will be close to multiple shopping and dining, as well as the Brightline Fort Lauderdale Station, within the city’s downtown area. Fort Lauderdale-Hollywood International Airport is within 4 miles, Fort Lauderdale Executive Airport is 10 miles away and Pompano Beach, Fla is within 13 miles of the property.
Multiple condo projects underway
JLL Capital Markets team that includes Managing Director Brian Gaswirth and Associate Paul Adams brokered the deal.
There are multiple condominium projects underway in the Miami market. In September, Related Group and Integra Investments received $527 million in financing for a 50-story condo project on the Biscayne Bay waterfront, expected to be delivered in 2027. In July, a joint venture between Major Food Group, Terra Group and One Thousand Group announced their first project together. With Moss Construction as general contractor, Villa Miami is a 56-story condo tower designed to rise in Miami’s Edgewater neighborhood.
