Key Biscayne-based developer Latitude Group recently secured $24.5 million in construction financing for The Terraces, a boutique 10-story, 22-unit condominium tower in Fort Lauderdale Beach. 

Linkvest Capital, through its LV Lending affiliate, provided the funding, which was arranged by BayBridge Real Estate Capital. The condos are priced from $2 million and are 60% sold. Douglas Elliman is the exclusive sales agent. The general contractor, Winmar Construction, broke ground on the project in mid-April. 

Designed by South Florida-based architecture firm GarciaStromberg, the move-in ready residences will come in two- and three-bedroom-plus-den floorplans ranging from 1,775 to 2,700 square feet. Units will have 10-foot ceilings, floor-to-ceiling impact-glass windows and wraparound terraces, as well as European kitchen cabinetry, Thermador and Bosch appliances, LED lighting and smart thermostats. 

The project at 527 Orton Ave. will offer 7,000 square feet of indoor and outdoor amenities, including a pool deck, gym with lounge space, outdoor fitness and yoga terrace and two summer kitchens. 

“It was a pleasure to work with Latitude Group on this transaction, and we congratulate them on this exciting milestone,” Linkvest CEO Camilo Niño said in a release. “Securing a loan for new construction in today’s economic climate speaks to the confidence we have in their team and the excellence of this remarkable project. Our firm values building long-term partnerships, and we would welcome the opportunity to work with them again in the future.”