Affinius Capital LLC today announced that it has provided $27 million of preferred equity to refinance the recently completed Society Orlando, a 462-unit multifamily property with more than 30,000 square feet of retail in Orlando, FL. The preferred equity was provided to Property Markets Group and will help bridge the property from lease-up to stabilization.
Affinius Capital Managing Director Eric Cohen commented, “This transaction represented a terrific opportunity to continue Affinius’ strong relationship with Property Markets Group. We are excited to provide this preferred equity financing to help facilitate the execution of our partner’s business plan. The asset is well-positioned in the market and exemplifies the highly amenitized, quality product which Property Markets Group has repeatedly delivered.”
Society Orlando is located in downtown Orlando, just north of the central business district, with access to job hubs and entertainment options. The property is proximate to Creative Village, Lake Eola Park, and the downtown campus of the University of Central Florida and Valencia College.
The Class-A multifamily property offers 140,000 square feet of market-leading amenities such as an expansive pool deck, grilling and entertainment areas, a large modern gym and fitness studio, a lush yoga lawn, a coworking hub with private conference rooms, and a vast poolside social lounge. As one of the largest residential developments in the metro area it features higher quality finishes providing a better tenant experience compared to existing properties in the submarket. Society Orlando received a temporary certificate of occupancy in July 2024, and significant lease-up is underway.
About Affinius Capital LLC
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $32 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
