MG Developer Secures $105 Million Construction Loan For Metro Parc South In Hialeah

The asset involved in this transaction is a multifamily property known as Metro Parc South, located at 954 East 25th Street in Hialeah, Florida. This community consists of 347 units and covers a total area of 278,106 square feet. The property is identified as transit-oriented and is part of MG Developer's larger Metro Center master project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $105,000,000
• Loan Type: Construction
• Lender: Daniel Ridloff & Martin Nussbaum - SCALE Lending
• Landlord: Alirio Torrealba & Diego Torrealba - MG Developer

This financing arrangement demonstrates institutional confidence in MG Developer, a prominent real estate development firm based in Miami. The funding from SCALE Lending, a New York-based firm specializing in debt financing for commercial real estate, contributes to over $3 billion in originations geared towards residential projects. The collaboration highlights SCALE Lending's strategic entry into the Miami market, partnering with established companies for ambitious developments in thriving locations.