CIM provides $120m construction loan for mixed-use project in Orlando

CIM provides $120m construction loan for mixed-use project in Orlando

CIM Group-managed fund has provided 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, Florida.

Located at 434 N. Orange Ave., Society Orlando differentiates itself from traditional residential developments by offering 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.

Located within the Central Business District of Orlando and walking distance to Creative Village, the 172-acre downtown campus for UCF and Valencia College, Society Orlando is situated on a 3.57-acre parcel on North Orange Avenue between West Amelia and East Livingston Streets. The project is designated as a transit-oriented development given its proximity to the Lynx Central SunRail station.

Society Orlando is currently under construction and anticipated to open in 2023.