Sunrise Realty Trust Commits $35.0 Million to a $370.0 Million First Mortgage Loan for the Financing of the Lofty & Standard in Miami, FL
WEST PALM BEACH, Fla., Sept. 29, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. ("SUNS" or the "Company") (NASDAQ: SUNS), a lender on the Tannenbaum Capital Group ("TCG") Real Estate platform, today announced that it has committed $35.0 million to a $370.0 million first mortgage loan for the Lofty & Standard, a two-tower condominium development in the Brickell neighborhood of Miami, Florida (the "Project"). As part of the financing, affiliated lenders on the TCG Real Estate platform committed an additional $25.0 million to the first mortgage loan. The Project is a joint venture between Two Roads Development ("Two Roads") and Newgard Development Group ("Newgard" and, collectively with Two Roads, the "Sponsor").
The Project, located on the Miami River one block from the Brickell City Centre in Miami, includes a 43-story north tower ("Lofty") with 362 luxury units and a 45-story south tower ("Standard") with 422 luxury units. The towers will feature first-class amenities, spanning four floors in the Lofty and three floors in the Standard, with each tower including its own entertainment spaces, a resort-style pool deck, a fitness & spa complex, and co-working spaces. Additionally, the Lofty will house a full-floor membership club, and the Standard will have its own 8,000 SF rooftop club lounge & café. The Project presents a niche offering of affordable, mid-sized units with quality finishes and waterfront views. Pre-sales for the Lofty & Standard have so far shown strong demand.
"This Project fills a growing void we are seeing in the Miami market for home buyers – it offers a luxury product in a vibrant, trendy area close to downtown," said Brian Sedrish, Chief Executive Officer of SUNS, adding "With a pair of the region's leading developers in Two Roads and Newgard, and a business plan that is progressing right on track, we are thrilled to add this investment to our growing portfolio of high-quality loans to CRE projects in the Southern U.S."
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (NASDAQ: SUNS) is an institutional commercial real estate ("CRE") lender providing flexible financing solutions to sponsors of CRE projects primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (NASDAQ: SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG, please visit www.theTCG.com.
Forward-Looking Statements
Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. The Company's forward-looking statements are generally accompanied by words such as "intend," "will," "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "plan," "goal" or other words that convey the uncertainty of future events or outcomes. Statements, among others, relating to the Company's beliefs with respect to demand in the Miami, Florida market and the Property's positioning in the market are forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company's control. Certain factors, risks and uncertainties discussed under the caption "Risk Factors" and elsewhere in the Company's filings available on the SEC's website could cause actual results and performance in the future to differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact
Robyn Tannenbaum
561-510-2293
[email protected]
