National development firm PMG, alongside Canadian-based private equity firm Greybrook, has secured $178 million in refinancing for the 10-story Society Wynwood mixed-use project located at 176 NW 25th St in Miami’s Wynwood Arts District. Financing was arranged by Eastdil Secured and provided by funds managed by Ares Management and Monarch Alternative Capital. PMG was represented by Randy Barcelo from Stearns Weaver Miller. Society Wynwood has experienced rapid leasing velocity since welcoming 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,” said Andrew Warman, Managing Director, Capital Markets at PMG. “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 features 318 rental apartments and 50,210 square feet of retail space across the ground floor’s full city block. The property offers a mix of traditional units with efficient layouts and innovative “Rent-by-Bedroom” (co-living) options. Its extensive amenity package encompasses over 82,000 square feet of community-focused spaces, including a massive rooftop pool deck with an outdoor gym, theater lawn, hot tub and grilling areas, a coworking hub with abundant private conference rooms, a modern gym 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," said Sami Mouaket, Director of U.S. Investments & Developments at Greybrook. "Society Wynwood stands out not only for its attainably priced offering, but also its elevated lifestyle with condo standard finishes across both co-living and traditional suites. We have seen tenants relocating from within the neighborhood, from across the state, country and even internationally, reflecting the social diversity and continued appeal of Wynwood and Miami more broadly."
The internal ground floor courtyard hosts several dining options for both locals and visitors, including Dave’s Hot Chicken, Bodega Taqueria, Chama de Fogo’s Brazilian steakhouse, Las Vegas-based Nacho Daddy serving gourmet nachos, a Starbucks, Voodoo Donuts and I Scream Gelato. Society Wynwood is a vibrant addition to the neighborhood, blending modern living with a rich array of amenities and retail options.
Society Wynwood is the latest among PMG’s growing national portfolio of Society Living apartment communities. PMG created the multifamily brand to address the insatiable demand for reasonably priced rental housing in the most desirable locations, where neighbors can connect and thrive together. Urging residents to “Choose Happiness,” Society Living focuses on creating inspiring living spaces that encourage personal growth. PMG recently opened Society Orlando in Downtown Orlando and has over 8,500 units planned; additional Society Living properties are underway in Atlanta, Brooklyn, Denver, Fort Lauderdale and Nashville, with more to be announced.
Over the last 33 years, PMG has delivered more than $12B in assets across the country with exacting design and execution.
