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.
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. Steven Klein
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 |
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.
“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. Paul Adams
“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.
Shane Ciacci |
CONTACT:
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356