PMG, in collaboration with Greybrook, has successfully secured $178 million in refinancing for the Society Wynwood project in Miami’s Wynwood Arts District. The financing, arranged by Eastdil Secured and provided by funds managed by Ares Management and Monarch Alternative Capital, marks a significant milestone for the 10-story mixed-use development located at 176 NW 25th St. Randy Barcelo from Stearns Weaver Miller has represented the project, which has seen rapid leasing activity since the arrival of its first residents in March.
“It’s been exciting to witness the building’s positive reception since opening, and we’re pleased to project that the property will be stabilized by spring 2025,” says Andrew Warman, Managing Director, Capital Markets at PMG, a national development firm. “We’re thankful for the support of our partners and lenders in securing this refinancing, which will enable us to repay the existing construction loan and continue a successful lease-up.”
Society Wynwood comprises 318 rental apartments and 50,210 square feet of retail space spanning the entire ground floor city block. The property provides a variety of traditional units with efficient layouts and innovative “Rent-by-Bedroom” (co-living) options. Its extensive range of amenities covers over 82,000 square feet of community-focused spaces, including a spacious rooftop pool deck with an outdoor gym, theater lawn, hot tub, and grilling areas, a coworking hub with numerous private conference rooms, a modern gym suitable for any workout, a yoga terrace lawn, smart package lockers and app-based keys.
“The completed building fosters a strong sense of community with its expansive indoor and outdoor amenities and lifestyle programming for residents,” says Sami Mouaket, Director of U.S. Investments & Developments at Greybrook.
Photo Credit: Society Wynwood
