Property Markets Group And Greybrook Secure $226M Construction Loan For Society Las Olas Apartment Complex In Fort Lauderdale

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.