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Matthew Baron Of Baron Property Group Secures $30 Million Loan From Knighthead Funding In Coral Gables

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FINANCED
$30,000,000

Florida

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Development Site
Financed 06/01/2026
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FINANCED

Matthew Baron Of Baron Property Group Secures $30 Million Loan From Knighthead Funding In Coral Gables

3898 Shipping Avenue

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Development Site
Financed 06/01/2026
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The asset involved in this transaction is a development site located at 3898 Shipping Avenue in Coral Gables, Florida. The site is designated for a mixed-use residential project known as Merrick Parc, which is situated near Merrick Park and the Douglas Road Metrorail station. The loan secured for this property amounts to $30 million.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $30,000,000
  • Lender: Knighthead Funding
  • Landlord: Matthew Baron - Baron Property Group
  • Broker: Ayush Kapahi - HKS Real Estate Advisors

Matthew Baron, representing Baron Property Group, facilitated the $30 million land refinance and pre-development loan from Knighthead Funding, in collaboration with LargaVista Companies as a development partner. This partnership aims to advance the rezoned transit-adjacent site toward ground-up construction.

Players

Ayush Kapahi
HKS Real Estate Advisors
Ayush Kapahi
7 deals$779.3M volume
BROKER
Knighthead Funding
Knighthead Funding
LENDER

Details

FINANCED
IMAGE: Matthew Baron & Ayush Kapahi DATE: 06/01/2026 ADDRESS: 3898 Shipping Avenue MARKET: Coral Gables, FL ASSET TYPE: Development Site LENDER: Knighthead Funding LANDLORD: Matthew Baron (@MatthewmBaron) - Baron Property Group (@BaronPropertyGroup) BROKER: Ayush Kapahi (@NicksKapahi) - HKS Real Estate Advisors (@HKSRealEstateAdvisors) LOAN AMOUNT: $30,000,000 NOTE: Baron Property Group secured a $30 million land refinance and pre-development loan from Knighthead Funding for Merrick Parc, a mixed-use residential project planned in Coral Gables, Florida, near Merrick Park and the Douglas Road Metrorail station. The deal also brings in LargaVista Companies as a development partner, advancing a rezoned transit-adjacent site toward ground-up construction.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00