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Greybrook and PMG Secure US$142.3 Million Construction Loan for Society Wynwood

日期:
August 20, 2021
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The multi-family rental project will include 318 units and 50,000+ square feet of commercial space.

Greybrook and PMG have secured a construction loan for the 10-story Society Wynwood development in Miami’s vibrant Wynwood Arts District. The loan will provide financing for the society living development, which commenced construction earlier this year.

“We are thrilled to secure this construction loan alongside our partners at Greybrook to create a premier living and entertainment destination on the most prominent block in Wynwood,” commented Ryan Shear, Managing Partner at PMG.

Targeting completion in Spring 2023, Society Wynwood will offer future residents a thoughtfully designed social community that combines the concept of traditional multi-family units and co-living rental opportunities with premium amenities and integrated retail space.

“Securing this construction loan for Society Wynwood further proves the strength of the Society Living portfolio and the appeal of social apartment communities,” said Sami Mouaket, Director, U.S. Investments & Development at Greybrook Realty Partners on the recent announcement.

Since launching in 2019, the national Society Living multi-family brand has helped address strong demand in the US for attainably priced rental communities close to urban centres. This marks our 3rd Society Living project in South Florida and 4th in the US; including, our successfully leased Society Las Olas in Downtown Fort Lauderdale, Society Biscayne slated to open in early 2022 in Downtown Miami, and our recently announced Society development in Denver, Colorado.

 

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