Sunrise Realty Trust, Inc. announced on November 4, 2024, a commitment of $30.0 million to a $96.0 million senior loan. This financing supports the development of the Sixth & Rio condominium project located in Fort Lauderdale, Florida.
The company funded $3.6 million of its total commitment at the time of the announcement. The remaining $66.0 million of the overall loan amount was syndicated to two co-lenders, one of which is an affiliated entity.
This investment expands SUNS's portfolio within the high-growth Southern U.S. market. The project is being developed by OceanLand Investments, focusing on a new condominium development.
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