Sarasota luxury waterfront condo project receives $173M loan

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.