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Sarasota luxury waterfront condo project receives $173M loan

By Mark Gordon
| 10:00 a.m. November 21, 2023
| 0 Free Articles Remaining!

The site for Rosewood Residences Lido Key is on Benjamin Franklin Drive.

Manatee-Sarasota

An uber-luxury oceanfront condo development on Lido Key in Sarasota — with some units initially being marketed for more than $15 million — has obtained $173.5 million in construction financing.

The project, with 65 units, is named Rosewood Residences Lido Key. The developer is The Ronto Group, based in Naples, in partnership with Greenwich, Connecticut-based real estate investment firm Wheelock Street Capital.

Real estate firm JLL Capital Markets represented The Ronto Group and Wheelock Street Capital to secure the loan through Bank OZK, according to a statement.

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author

Mark Gordon

Mark Gordon is the managing editor of the Business Observer. He has worked for the Business Observer since 2005. He previously worked for newspapers and magazines in upstate New York, suburban Philadelphia and Jacksonville.