National development firm PMG, in partnership with Canadian private equity firm Greybrook, has secured $178 million in refinancing for the 10-story Society Wynwood mixed-use project at 176 NW 25th St in Miami’s Wynwood Arts District. The financing, arranged by Eastdil Secured, was provided by funds managed by Ares Management and Monarch Alternative Capital. PMG was represented by Randy Barcelo from Stearns Weaver Miller. Since welcoming its first residents in March, Society Wynwood has experienced rapid leasing activity.
“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 of Capital Markets at PMG. “We’re grateful for the support of our partners and lenders in securing this refinancing, which will allow us to repay the existing construction loan and continue our successful lease-up.”
Society Wynwood offers 318 rental apartments and 50,210 square feet of retail space spanning the entire ground floor. The property features a mix of traditional apartments with efficient layouts and innovative “Rent-by-Bedroom” (co-living) options. Its extensive amenities include over 82,000 square feet of community-focused spaces, such as a massive rooftop pool deck with an outdoor gym, theater lawn, hot tub, grilling areas, a coworking hub with private conference rooms, a modern gym, 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 affordable offerings but also for its elevated lifestyle, with condo-standard finishes across both co-living and traditional suites. We've seen tenants relocating from within the neighborhood, across the state, country, and even internationally, highlighting the social diversity and ongoing appeal of Wynwood and Miami."
The ground floor courtyard hosts a variety of dining options for both locals and visitors, including Dave’s Hot Chicken, Bodega Taqueria, Chama de Fogo’s Brazilian steakhouse, Nacho Daddy from Las Vegas, Starbucks, Voodoo Donuts, and I Scream Gelato. Society Wynwood brings a vibrant blend of modern living, amenities, and retail to the neighborhood.
Society Wynwood is the latest addition to PMG’s expanding national portfolio of Society Living apartment communities. PMG created the multifamily brand to meet the growing demand for affordable rental housing in prime locations, where residents can connect and thrive together. Encouraging residents to “Choose Happiness,” Society Living focuses on creating inspiring living spaces that promote personal growth. PMG recently opened Society Orlando in Downtown Orlando and has over 8,500 units in the pipeline. Additional Society Living properties are under development in Atlanta, Brooklyn, Denver, Fort Lauderdale, and Nashville, with more to come.
Over the past 33 years, PMG has delivered more than $12 billion in assets across the country, with a focus on exceptional design and execution.
