Adam Neumann's Flow Acquires 318-Unit Society Wynwood In Miami From Kevin Maloney For $119M

The asset involved in this transaction is a multifamily property located at 176 Northwest 25th Street in Miami, FL. This property comprises 318 units and the transaction was valued at $119 million. Following the acquisition, a $10 million renovation plan is set to be undertaken under new ownership, leading to its rebranding as Flow Wynwood.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $119 million
• Buyer: Adam Neumann - Flow
• Seller: Kevin Maloney - PMG (Property Markets Group)
• Joint Venture Partner: Greybrook
• Number of Units: 318
• Renovation Plan: $10 million
• New Property Name: Flow Wynwood

This deal sees Adam Neumann, the founder of Flow, acquiring a stake in the Society Wynwood apartment complex from Kevin Maloney of PMG. Following the acquisition, Flow is entering into a 50-50 joint venture with Greybrook, marking a significant collaboration in the real estate market.