National development and investment firm PMG and private equity firm Greybrook share that they have secured $226M in construction financing for phase two of Society Las Olas- a 42-story apartment community located in Downtown Fort Lauderdale.
Photo Credit: PMG
Designed by FSMY Architects + Planners, phase two of Society Las Olas will offer 563 rental units, approximately 1,625 square feet of retail space, and an abundance of amenities including a co-working lab with private meeting rooms, a large pool deck and yoga lawn, and a modern fitness center. Phase one of this project is located just next door and played a key role in the resurgence of Downtown Fort Lauderdale's Riverfront district.
Photo Credit: PMG
Launched back in 2019, PMG created the Social Living multifamily brand after seeing the necessity for reasonably priced housing in desirable locations. Society Las Olas’ second phase is among a growing set of Society Living communities that are in various stages of development. All of which have a mutual goal to inspire living spaces that encourage personal growth and inclusivity, urging residents to "Choose Happiness." Over 8,500 units are planned by this brand in Miami, Atlanta, Orlando, Nashville, Denver, and Brooklyn- with more to come in the future.
Photo Credit: PMG
“We look forward to continuing the construction of Society Las Olas’ second phase alongside our partners and lenders. 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,” said Ryan Shear, Managing partner at PMG.
The loan was provided by Related Fund Management and Lubert-Adler. John Moriarty & Associates is the general contractor of Society Las Olas’ second phase, which is currently completing the groundwork and is aiming for completion in Q1 2026.
Photo Credit: PMG
