MG Developer And Baron Property Group Secures $18M Loan For Metro Parc North Multifamily Project | 901 East 26th Street | RMWC | Jeffrey Donnelly, Ayush Kapahi, Dmitry Levkov | Development Site | Loan

Summary

Loan

FLORIDA

Development Site

Metro Parc North, a multifamily project in Hialeah, has secured an $18 million acquisition loan. The loan will be used by MG Developer and Baron Property Group to acquire a block of single-family houses as part of the expansion of the $600 million Metro Center development near Hialeah Hospital. This marks the third phase of the project, following earlier phases that were financed by a $148 million construction loan.

Summary of transaction details

Property Type: Development Site
Transaction Amount: $18,000,000
Address: 901 East 26th Street, Hialeah
Market: Hialeah

The joint venture between MG Developer and Baron Property Group is spearheaded by Alirio Torrealba and Matthew Baron, respectively. Ayush Kapahi from HKS Capital Partners, along with Jeffery Donnelly and Dmitry Levkov from Colliers, served as the brokers in the deal. With the loan in place, the project is set to move forward in its mission to expand and transform the Metro Center area.

Players

All
6

Agents
3
Agencies
2
Lenders
1

Jeffrey Donnelly

Executive Director

$38.8M Sold

Ayush Kapahi

Principal & Founding Partner

Dmitry Levkov

Senior Managing Director

$38.8M Sold

HKS Real Estate Advisors

Colliers International

RMWC

Details

Deal Summary

FINANCED

IMAGE: Jeffery Donnelly, Ayush Kapahi, Alirio Torrealba, Dmitry Levkov & Matthew Baron DATE: 09/29/2023 ADDRESS: 901 East 26th Street MARKET: Hialeah ASSET TYPE: Development Site LENDER: RMWC LANDLORD: MG Developer (@MGDeveloper) - Alirio Torrealba (@AliriojTorrealba); Baron Property Group (@BaronPropertyGroup) - Matthew Baron (@MatthewmBaron) BROKERS: Ayush Kapahi (@NicksKapahi) - HKS Capital Partners (@HKSRealEstateAdvisors) ; Jeffery Donnelly & Dmitry Levkov - Colliers (@ColliersInternational) LOAN AMOUNT: $18,000,000 LOAN TYPE: Acquisition Loan NOTE: MG Developer and Baron Property Group have obtained an $18 million loan to acquire a block of single-family houses in Hialeah for the Metro Parc North multifamily project, part of the larger $600 million Metro Center development near Hialeah Hospital. The joint venture has been acquiring properties for expansion, with Metro Parc North representing the third phase of the project, following a $148 million construction loan for earlier phases. Final Images

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Address901 East 26th Street

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