MG Developer Acquires Development Site In Coral Gables For $11.5M Loan

Alirio Torrealba has closed a loan transaction for the development site located at 717 Valencia Avenue in Coral Gables. The property, owned by MG Developer, is a development site with 17 units and a total buildable square footage of 36,934. The loan amount for this transaction was $11,500,000, and it was an acquisition loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $11,500,000
• Address: 717 Valencia Avenue, Coral Gables
• Market: Coral Gables
• Units: 17
• Buildable Square Footage: 36,934

Alirio Torrealba from MG Developer served as the landlord in this transaction.