CIM Group Provides $120M Construction Loan for Orlando Apartments

CIM Group has provided a $120 million construction loan to finance Society Orlando, a 26-story mixed-use multifamily and retail development in Orlando.

Located at 434 N. Orange Ave., Society Orlando will offer a combination of traditional rental apartments with furnished co-living units in a community-focused living environment. Phase one of Society Orlando will feature 462 residential units across a mix of studio, one-, and two-bedroom floor plans, and co-living units, across a mix of two-, three- and four-bedroom floor plans. The building also provides 33,000 square feet of ground floor retail and 502 parking spots.

CIM Group provided the loan to borrowers Property Markets Group (PMG) and Raven Capital Management. Society Orlando is currently under construction and slated to open in 2023.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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