Miami-based real estate development and construction firm Cymbal DLT Companies closed on a $32 million loan from 3650 REIT that will allow it to officially prepare for the groundbreaking of its highly anticipated billion-dollar Downtown Fort Lauderdale Riverwalk district project. The first phase of the project, Riverwalk Raintree Residences, is slated to break ground on its first building in the summer of 2023. It will include two eco-friendly, mixed-use multifamily apartment towers of 28 stories and 29 stories by acclaimed architecture firm Jo Palma + Partners comprising a combined 677 residential units and 21,000 square feet of commercial space. The second phase will include an Arquitectonica-designed branded condominium tower, a branded full-service hotel, a branded yacht valet and yacht club, membership clubs, and significant food and beverage operations, which will be announced next year.