Developers Secure $178 Million Refinancing for Society Wynwood in Miami

National development firm Property Markets Group (PMG), in collaboration with Canadian-based private equity firm Greybrook Realty Partners (Greybrook), has secured $178 million in refinancing for Society Wynwood, a 10-story mixed-use building designed by MKDA at 176 Northwest 25th Street in Miami’s Wynwood Arts District. Eastdil Secured arranged the financing, provided by funds managed by Ares Management and Monarch Alternative Capital. Randy Barcelo from Stearns Weaver Miller represented PMG. Since welcoming its first residents in March, Society Wynwood has experienced rapid leasing velocity.

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FAA Approves 637-Foot Height for Edge House Miami at 1825 Northeast 4th Avenue in Edgewater, Miami

The Federal Aviation Administration (FAA) has approved the height for Edge House Miami, a new 57-story condominium tower planned at 1825 Northeast 4th Avenue in Miami’s Edgewater neighborhood. According to an FAA determination letter issued on August 19, the tower can rise 637 feet above ground or 641 feet above sea level. Designed by Kobi Karp Architecture & Interior Design with interiors by Adriana Hoyos Design Studio and developed by Grupo T&C, a prominent developer from Peru, the 734,644-square-foot development will offer around 600 fully finished and furnished residences ranging in size from 375 to 1,242 square feet and include studio, one-bedroom, one-bedroom plus den, and two-bedroom layouts. Features of the units include nine-foot-high ceilings, floor-to-ceiling windows, and, in select residences, private outdoor terraces.

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Doral Approves Mixed-Use Development with 552 Units and Retail Space at Midtown Doral in Miami

MG Developer has received approval from the City of Doral for Doral Parc: Midtown Doral Phase IV, V & VI, a mixed-use development that will include 552 units in three 10-story buildings and 22,740 square feet of retail space in two new parking garages. This project is a joint venture between MG Developer and Latin American entrepreneur Ernesto De Lucas.

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