Society Wynwood Secures $178 Million Refinancing for the Mixed-Use Development
National development powerhouse Property Markets Group (PMG) and Canadian private equity firm Greybrook Realty Partners (Greybrook) have successfully secured $178 million in refinancing for Society Wynwood, a prominent mixed-use development in Miami’s dynamic Wynwood Arts District. This 10-story building, designed by MKDA and located at 176 Northwest 25th Street, is a testament to the innovative vision of PMG and Greybrook. The financing was arranged by Eastdil Secured, with funds provided by Ares Management and Monarch Alternative Capital. Randy Barcelo from Stearns Weaver Miller represented PMG in the transaction.
Since opening its doors to residents in March, Society Wynwood has witnessed rapid leasing success, underscoring its appeal in one of Miami’s most sought-after neighborhoods. The building boasts 318 rental apartments alongside 50,210 square feet of retail space, which spans the entire block on the ground floor. Residents can choose from traditional apartments with efficient layouts or opt for the innovative “Rent-by-Bedroom” co-living option, catering to a variety of living preferences.
One of Society Wynwood’s standout features is its extensive amenities, designed to foster community and elevate the living experience. Over 82,000 square feet of community-focused spaces include a rooftop pool deck with an outdoor gym, theater lawn, hot tub, grilling areas, and a coworking hub equipped with private conference rooms. A modern gym, yoga terrace lawn, smart package lockers, and app-based keys further enhance the convenience and lifestyle of residents.
“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 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.”
The completed building not only offers luxurious amenities but also fosters a strong sense of community. According to Sami Mouaket, Director of U.S. Investments & Developments at Greybrook, “Society Wynwood stands out not only for its attainably priced offering but also for its elevated lifestyle with condo-standard finishes across both co-living and traditional suites. We have seen tenants relocating from within the neighborhood, across the state, country, and even internationally, reflecting the social diversity and continued appeal of Wynwood and Miami more broadly.”
Society Wynwood’s ground floor courtyard is a culinary hub, featuring dining options like Dave’s Hot Chicken, Bodega Taqueria, Chama de Fogo’s Brazilian steakhouse, Nacho Daddy from Las Vegas, Starbucks, Voodoo Donuts, and I Scream Gelato. This vibrant array of offerings contributes to the building's appeal, drawing both locals and visitors to experience the best of Wynwood’s lifestyle.
As the latest addition to PMG’s national portfolio of Society Living apartment communities, Society Wynwood embodies the brand’s mission to provide reasonably priced rental housing in prime locations while fostering a sense of community. PMG’s Society Living brand, which encourages residents to “Choose Happiness,” is expanding rapidly, with over 8,500 units planned across cities like Orlando, Atlanta, Brooklyn, Denver, Fort Lauderdale, and Nashville. Each property is designed to inspire residents and support personal growth, making Society Wynwood a key player in Miami’s continued evolution as a vibrant, diverse, and appealing city.
Society Wynwood is more than just a place to live; it’s a community where modern amenities, diverse retail offerings, and innovative living solutions converge. With its recent refinancing, Society Wynwood is set to continue its trajectory as a premier destination in Miami’s Wynwood Arts District, attracting residents from near and far to experience the best of urban living.
