PMG and Lndmrk Development secured $126 million in construction financing for Twenty Sixth & 2nd Wynwood Residences, an eight-story condo project in Miami's Wynwood neighborhood. Madison Realty Capital and private equity firm Siguler Guff provided the loan.
The development sits at 2600 Northwest Second Avenue, positioned at the intersection of Northwest 26th Street in one of Miami's most active neighborhoods. Wynwood has emerged as a prime location for residential development, attracting investors seeking projects in Miami's increasingly competitive market.
This financing reflects confidence in Miami's condo sector despite broader economic headwinds. The $126 million commitment demonstrates that institutional lenders and private equity firms view the Wynwood submarket as viable for mid-rise residential construction. The project's financial backing positions it to move forward with development timelines.
Wynwood's appeal centers on its walkable character, proximity to downtown Miami, and established arts district. Recent projects in the area have performed well, supporting investor appetite for new residential supply. The neighborhood's transformation from industrial area to cultural hub has driven land values and development activity upward over the past five years.