Done Deals: JLL Capital Markets handled the $173.5 million construction financing for the 65-unit Rosewood Residences Lido Key in Sarasota, FL

Tuesday, November 21, 2023

JLL Capital Markets handled the $173.5 million construction financing for the 65-unit Rosewood Residences Lido Key in Sarasota, FL

Rosewood Residences Lido Key,
Lido Key Beach, Sarasota, FL

MIAMI, Nov. 20, 2023 – JLL Capital Markets has arranged $173.5 million in construction financing for Rosewood Residences Lido Key, a 65-unit, ultra-luxury, oceanfront condominium development situated on the Gulf of Mexico beachfront of the exclusive Lido Key Beach in Sarasota, Florida.

JLL represented the borrower, The Ronto Group and Wheelock Street Capital, to secure the loan through Bank OZK.

Steven Klein

With an anticipated completion of Q4 2025, the property will be the first exclusively residential Rosewood branded residences in Florida and will feature luxurious three- and four-bedroom residences, ranging from 3,300 square feet to 5,000 square feet, with a selection of the highest quality designer- and custom-finishes.

Each unit is serviced by private elevators and is designed with oversized living rooms, 11-foot ceilings, gourmet kitchens, spacious baths, terraces and private garages.

Community amenities will include a fully staffed residents-only beach club with a pool pavilion bar and zero-edge swimming pool; a residents-only bistro cafe, full bar, full dining service and separate main dining area accessible to a third-level pool deck with a second zero-edge swimming pool and spa; a world-class fitness center; a staffed owner’s lounge; a game room lounge; a children’s playroom; a bocce lawn; a 12-seat movie theatre; and an expansive pet park with pet care options.

Brian Gaswirth

Residents also have access to the highly exclusive Rosewood Reserve program, which offers unparalleled VIP access, services and advantages at Rosewood properties around the world, as well as other Rosewood-exclusive amenities.

The property is situated at 930 Benjamin Franklin Dr., directly on Lido Key Beach, and is steps to the historic St. Armands Circle, a shopping district with 138 boutiques, specialty shops, galleries, restaurants and a wide range of annual events.

The JLL Capital Markets Debt Advisory team included Senior Managing Director Steven Klein, Managing Director Brian Gaswirth, Associate Paul Adams and Analyst Shane Ciacci.

Paul Adams

“The Ronto Group and Wheelock Street Capital continue to redefine the pinnacle of luxury along the west coast of Florida by finding irreplaceable development sites,” said Klein.

“It’s incredible to partner with such a luxurious brand and to build Rosewood’s first exclusively residential-branded property.”

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 investment and sales advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.