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Sign in Sign up for a FREE subscriptionPMG, Greybrook secure $226m construction loan for Fort Lauderdale apartments
A partnership between Property Markets Group (PMG), a development and investment firm, and Greybrook Realty Partners, a Toronto-based real estate private equity firm, has received a $226 million construction loan for a high-rise apartment tower in downtown Fort Lauderdale.
Related Fund Management and Lubert-Adler provided the financing to the developers.
The loan is for the second apartment building at Society Las Olas, which will be a 42-story, 563-unit apartment tower at 140 Southwest Second Street with 1,625 square feet of retail. The project is scheduled to open in first quarter 2026.
“We look forward to continuing the construction of Society Las Olas’ second phase alongside our partners and lenders,” said Ryan Shear, managing partner at PMG. “Downtown Fort Lauderdale is an immensely desirable destination, and we are confident this second tower will meet strong demand while extending the impact of Society Las Olas as a landmark project for the city.
