GreyBrook logotype
Investor Login Contact Us

Greybrook Realty Partners Invests US$15,465,000 to Expand a Multi-Family Residential Project Currently Under Development with PMG in Miami, Florida

Date:
November 25, 2020
Share:

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of US$15,465,000 to acquire and oversee the development of a prime parcel of land in Miami, Florida. Together with its developer partner, PMG, the firm intends to develop the land located at 2407 NW 2nd Avenue into a mixed-use multi-family residential building.  This project is an expansion of an existing project with PMG on the adjacent parcel of land located along NW 2nd Avenue and NW 25th Street, which was acquired in 2019 and is currently under development.  Part of Society Living, a national platform of thoughtfully designed social communities, the expanded project is expected to yield over 280 rental units and more than 50,000 square feet of retail.

The site, occupying the Northeast corner of NW 24th Street and NW 2nd Avenue, is situated in the heart of Miami’s dynamic Wynwood neighbourhood. Centrally located within the flourishing urban art district, the development site offers convenient access to an abundance of lifestyle amenities as well as a growing number of tech and creative enterprises. The expanded development site will now span a full block along NW 2nd Avenue, the major retail and entertainment thoroughfare in Wynwood.  In addition to a premium location, the eight-storey multi-family community will offer a growing urban renter population the opportunity to access attainably priced housing options, extensive social amenities and a tech-enabled lifestyle.

“This acquisition enables us to not only expand our mixed-use multi-family development along a full block at the epicentre of Wynwood, it also allows us to unlock additional value, improve the building design and attract high-quality retail tenants to our prime location along NW 2nd Avenue,” stated Sami Mouaket, Senior Vice President, Institutional Capital Markets, Greybrook Realty Partners. “Our Society Wynwood community will be a fantastic addition to one of the most sought-after neighbourhoods in Miami and a great example of the types of first-class locations we look for as we actively evaluate new urban markets across the U.S. for our next Society Living community with PMG”.

Society Wynwood is Greybrook’s third project with developer partner PMG featuring a Society Living community.  Together with the Society Las Olas development in Fort Lauderdale and the Society Biscayne development in downtown Miami, Greybrook continues to expand its portfolio of U.S. multi-family assets, which includes the development of over 2,100 traditional and co-living rental units across Southern Florida.

Read the full review on the Globe Newswire site. 

Latest Insights

Greybrook Team Pedals to Support 4th Annual Baycrest Bike for Brain Health

Community
June 2, 2025

This past Sunday, members of the Greybrook team proudly participated in the 4th annual Baycrest Bike for Brain Health charity event, riding along the Don Valley Parkway and Gardiner Expressway to help raise awareness for brain health. As Canada’s largest…

Greybrook and PMG Celebrate Topping Off of Society Las Olas Phase II

Portfolio Updates
May 16, 2025

Greybrook and our partner PMG, are pleased to announce the topping off of the second phase of Society Las Olas, a 563-unit, 42-story apartment tower in Downtown Fort Lauderdale. Located at 140 SW 2nd St., Society Las Olas is a…

Boardroom Brief: EP. 07 – BMO Chief Economist Douglas Porter on Post-Election Forecasts, Trade Tensions & Canada’s Housing Market Outlook

Company News
May 8, 2025

For this special episode of Boardroom Brief, we invite you to listen in on a timely fireside chat between Greybrook Securities CEO Sasha Cucuz and Douglas Porter, Chief Economist at BMO Financial Group. The conversation took place live at Greybrook’s…

Navigating Uncertainty: Key Insights from Greybrook’s 2025 Investor Event

Uncategorized
May 5, 2025

Last Thursday, Greybrook hosted its 2025 Perspectives & Insights event, bringing together investors for an evening dedicated to unpacking critical economic trends and their implications for real estate and investment strategies. Doug Porter, Chief Economist at BMO Financial Group, served…

Leaders Lounge 2025: Toronto’s Real Estate Leaders Gather to Chart the Future

Uncategorized
April 24, 2025

On April 3rd, Toronto’s premier real estate networking event, Leaders Lounge 2025, brought together some of Toronto’s most influential industry leaders for an unforgettable evening of insights, conversation, and collaboration. Hosted by UJA and Toronto Real Estate Leaders, the invitation-only…

Greybrook Invests $22,850,000 in a High-Rise Residential Development Project with Stafford Homes in Toronto, Ontario

Uncategorized
April 23, 2025

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $22,850,000 to acquire and oversee the development of a prime parcel of land located west of Yonge Street on Berwick Avenue, immediately…

Alex Nisenker, VP Private Capital Markets, Talks Navigating Market Volatility and Development Opportunities on The Well Off Podcast

Insights
April 2, 2025

Uncertain market conditions continue to be a consideration for business owners and investors alike, encouraging many to reassess their strategies and prioritize core strengths while identifying opportunities for long-term success. In the latest episode of The Well Off Podcast, Alex…

Boardroom Brief: EP. 06 – Staying Ahead in Uncertain Times

Insights
March 26, 2025

Uncertainty dominates today’s headlines – from economic volatility to geopolitical tensions – and the real estate market is no exception. Developers and investors alike are navigating rising costs, evolving policies and shifting buyer behaviours in an environment where adaptability is…

Greybrook Celebrates International Women’s Day 2025

Company News
March 8, 2025

At Greybrook, we are proud to recognize and celebrate the extraordinary women who have played an integral role in shaping our organization. This year, in honour of International Women’s Day and Women’s History Month, the women at Greybrook came together…

Greybrook Team Members Roll Up Their Sleeves to Support ‘The Common Table’

Company News
March 3, 2025

At Greybrook, we recognize the importance of contributing to the communities where we live and work. Recently, our team had the opportunity to come together to volunteer at The Common Table, a Toronto-based drop-in program that provides meals, essential support…

All Publications

Join our newsletter and keep up to date with our news & insights

Contact us