Property Markets Group has secured $110 million in construction financing for the 36-storey rental building (formerly known as Vice) located next door to PMG and Greybrook’s luxury condominium development site. PMG principal Ryan Shear told The Real Deal Miami that the financing breaks down to $80 million from Centennial Bank and $30 million of a preferred equity investment from Square Mile Capital.
To celebrate the occasion, PMG hosted a Groundbreaking Block Party Bash June 2, offering guests craft beer, specialty food trucks, a Miami makers market and startup showcase, and even an arcade and carnival games for entertainment.