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MIAMI — PMG and Greybrook have secured a $178 million loan for the refinancing of Society Wynwood, a 318-unit mixed-use asset located at 176 N.W. 25th St. in Miami’s Wynwood Arts District. Eastdil Secured arranged the loan through funds managed by Ares Management and Monarch Alternative Capital on behalf of the borrowers. Randy Barcelo of Stearns Weaver Miller advised PMG in the transaction.
Society Wynwood rises 10 stories. The community offers 82,000 square feet of amenities, including a pool, theater lawn, outdoor gym and coworking spaces. The property also offers 50,210 square feet of retail space. Society Wynwood opened in March, and PMG expects the multifamily component to reach full stabilization by spring 2025.