Firm refinances Premier Riva’s 100-unit luxury, waterfront condominium in Fort Lauderdale, FL

JLL Capital Markets arranged a $27.8 million loan to refinance Premier Riva, a luxury condominium development at 1180 North Federal Highway in Fort Lauderdale, Fla. The group worked on behalf of Premier Riva LLC to place the loan with Man Group PLC.

Aaron Appel, Vice Chairman; Michael Diaz, Senior Vice President; Chris Bryn and Matt Fagella, Analysts, led the JLL Capital Markets team working on the debt assignment.

“Riva is located within one of Fort Lauderdale’s most prestigious and sought-after residential neighborhoods,” said Appel. “The sale of so many units in one of the most exclusive and expensive markets in the city demonstrated that luxury condominium units can achieve the projected sellout value. Evidence of this pricing has been demonstrated through the sale of contracted units to date.”

The Riva is a 100-unit luxury condominium located in Fort Lauderdale’s coveted waterfront area. The 15-story tower features 40,000-square-feet of amenities including a spa facility, 7,000-square-foot water-view fitness center, full-sized lap pool, 22 boat slips, and a unique 60-foot-wide glass walled lobby overlooking the water.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.