Investors sue Vlad Doronin’s OKO over stalled apartment project in downtown Fort Lauderdale
Vlad Doronin's OKO Group faces a lawsuit from investors for failing to make progress on a 251-unit apartment project in downtown Fort Lauderdale, despite obtaining a $100 million construction loan over three years ago.
According to the complaint, more than 40 investors in OKO Group's planned One River tower claim that the developer has not made any significant construction progress and has yet to secure a general contractor.
The investors have sued OKO Group, as well as FPR Investor and FPR US 1, the entities involved in the project. London-based Cain International is also named in the suit.
The investors argue that OKO Group has not fulfilled its promises and has not provided any updates or explanations for the delays. They are seeking a court order to appoint a receiver to take control of the project and to investigate potential breaches of fiduciary duty by OKO Group and its affiliates.
In response to the lawsuit, a spokesperson for OKO Group stated that they are committed to completing the project and are currently in discussions with potential construction partners. They also stated that the delays were due to "market conditions and regulatory hurdles." However, the investors argue that OKO Group's lack of progress is not due to external factors, but rather their own mismanagement of the project.
Originally reported by The Real Deal: https://therealdeal.com/miami/2025/09/17/investors-sue-oko-group-over-fort-lauderdale-rental-project/