WEST PALM BEACH, Fla., Sept. 29, 2025 (GLOBE NEWSWIRE) — Southern Realty Trust Inc. (“SRT” or the “Company”), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it has committed $10.0 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 $50.0 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.
“We are seeing clear, unmet demand in Miami for high-end homes in lively neighborhoods minutes from downtown. Combining a luxury offering with proven product-market fit, high-quality sponsorship in Two Roads and Newgard, and a plan that’s right on schedule, the Project squarely fits our investment criteria and we’re pleased to add this loan to our expanding portfolio of Southern U.S. CRE credits,” said Brian Sedrish, Chief Executive Officer of SRT.
About Southern Realty Trust Inc.
SRT was formed in 2023 to originate commercial real estate (“CRE”) debt investments in the Southern U.S. and provide capital to high-quality borrowers and sponsors with transitional business plans collateralized by top-tier CRE assets with opportunities for near-term value creation, as well as recapitalization opportunities. SRT intends to create a diversified investment portfolio, targeting first mortgages, B-notes, mezzanine loans and debt-like preferred securities across CRE asset classes. For additional information regarding the Company, please visit: www.theSRTgroup.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 and 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.
Investor Relations Contact
Robyn Tannenbaum
561-510-2293
ir@thetcg.com
