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Sunrise Realty Trust Commits $30.0 Million in Senior Loan for Sixth & Rio Condominium Development
Contract Type
agreement
AustinReal EstateReal Estate InvestmentLendingDescription
Sunrise Realty Trust, Inc. committed $30.0 million, of which the Company funded $3.6 million, to a $96.0 million senior loan for the development of the Sixth & Rio condominium project in Fort Lauderdale, Florida. The remaining $66.0 million of the total loan amount was syndicated to two co-lenders, one of whom is an affiliated entity. The Project will consist of 94 residences, featuring a mix of townhomes and condominium units, and will provide residents with an array of luxury amenities