A CIM Group-managed fund has closed a $120-million construction loan to Property Markets Group (PMG) and Raven Capital Management to finance Society Orlando, a 26-story mixed-use multifamily and retail development in Orlando. Located at 434 N. Orange Ave., Society Orlando is currently under construction and anticipated to open in 2023.
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.
Residents will have access to more than 100,000 square feet of amenities including a pool deck and outdoor entertainment lounge, a full-service gym and fitness center, and a communal food hall and retail plaza.
The project is designated as a transit-oriented development, given its proximity to the Lynx Central SunRail station.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).