PMG and Greybrook have secured $226 million in financing for phase two of Society Las Olas, a 42-story apartment community located in Downtown Fort Lauderdale. The second phase will include 563 units offering traditional and “Rent-by-Bedroom” or co-living options. Related Fund Management and Lubert-Adler provided the loan with John Moriarty & Associates as general contractor, slated for completion by Fall 2025.
The transaction was led by PMG’s Capital Markets team of Andew Warman, Jon Blank and Paton Marion alongside Kramer Levin Naftalis & Frankel represented by Saul Ewing while Lowell Plotkin, Lindsay Davis and Scott Buscemi served as in house counsels. Ryan Shear (Managing Partner at PMG) expressed his confidence that the project would meet strong demand while becoming a landmark destination for Fort Lauderdale: “Downtown Fort Lauderdale is an immensely desirable destination”.
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