FINANCED
Property Markets Group And Greybrook Secure $226M Construction Loan For Society Las Olas Apartment Complex In Fort Lauderdale
140 Southwest Second Street
Development Site
Financed 308 days ago
Summary
Loan
FLORIDA
Development Site
A $226 million construction loan has been secured by Miami-based Property Markets Group and Toronto-based Greybrook for the second phase of Society Las Olas, an apartment complex in Downtown Fort Lauderdale. The project, located at 140 Southwest Second Street, is expected to be completed in fall 2025 and will feature 583 units.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $226,000,000
- Address: 140 Southwest Second Street, Fort Lauderdale
- Market: Fort Lauderdale
The loan for the project has been provided by Related Fund Management, Related Companies, and Lubert-Adler. Property Markets Group, led by Ryan Shear and Dan Kaplan, along with Greybrook, will act as the landlords for the development.
Players
Details
FINANCED
IMAGE: Ryan Shear & Dan Kaplan
DATE: 07/17/2023
ADDRESS: 140 Southwest Second Street
MARKET: Fort Lauderdale
ASSET TYPE: Development Site
LENDER: Related Fund Management, Related Companies & Lubert-Adler
LANDLORD: Property Markets Group (@PMGDevelopment) - Dan Kaplan & Ryan Shear; Greybrook (@Greybrook)
LOAN AMOUNT: $226,000,000
LOAN TYPE: Construction
NOTE: Miami-based Property Markets Group and Toronto-based Greybrook have obtained a $226 million construction loan for the second phase of Society Las Olas, an apartment complex in Downtown Fort Lauderdale. The project, scheduled for completion in fall 2025, will feature 583 units and is backed by Related Fund Management and Lubert-Adler.View on map
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Address140 Southwest Second Street
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