Edgewood Capital Provides $27.9 Million Refinance for Fort Lauderdale Condo Project
Fort Lauderdale, Florida | September 19, 2026: A newly completed 22-unit condominium project in Fort Lauderdale Beach has secured a $27.9 million refinancing from Edgewood Capital, providing fresh debt financing as the project prepares to open this fall.
The refinancing for The Terraces at 527 Orton Avenue replaces the project's earlier construction financing and comes after 60% of the condominium units were sold, according to the property's website.
$27.9 Million Loan Refinances Completed Condo Project
Edgewood Capital provided the $27.9 million loan to Latitude Group for the Terraces condominium development.
The project previously secured a $24.5 million construction loan from Linkvest Capital in June 2024 to finance construction of the 22-unit development.
The latest refinancing comes as the completed project moves toward its planned opening this fall.
60% of Condo Units Already Sold
Sales progress is an important part of the project's financing picture.
According to the property's website, approximately 60% of the units at The Terraces have already been sold.
The development includes amenities such as:
- Fitness center
- Yoga studio
- Swimming pool
- Pool cabanas
- Community kitchen
The project is located at 527 Orton Avenue in Fort Lauderdale Beach.
Developer Previously Bought Site for $3.3 Million
Latitude Group acquired the approximately half-acre development site in 2020 for $3.3 million, according to property records cited by The Real Deal.
The financing and development timeline illustrates the significant capital required to transform a development site into a completed luxury condominium project, particularly in a coastal South Florida market.
BayBridge Arranged the Refinance
BayBridge Real Estate Capital arranged the refinancing for Latitude Group.
The team involved in arranging the deal included AJ Felberbaum, Jay Miller, Spencer Miller and Noah Rothman.
Edgewood Capital, Latitude Group and BayBridge did not immediately respond to Commercial Observer's requests for comment, according to the report.
Why the Deal Matters for South Florida Condos
The transaction highlights the role of refinancing in the final stages of condominium development.
For developers, replacing construction debt with longer-term financing after a project is completed can provide additional capital flexibility while remaining units are sold.
For condo buyers and property investors, the project's sales pace also offers an indication of market absorption, although the 60% sales figure alone does not establish broader Fort Lauderdale market conditions.
What Happens Next
The Terraces is expected to open this fall, with the remaining condominium units continuing through the sales process.
The new financing gives Latitude Group a fresh capital structure as the project transitions from construction to completed condominium operations and unit sales.