{"id":358763,"date":"2026-07-31T12:51:02","date_gmt":"2026-07-31T12:51:02","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/358763\/"},"modified":"2026-07-31T12:51:02","modified_gmt":"2026-07-31T12:51:02","slug":"baron-property-group-nabs-refi-for-hialeah-rental-complex","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/358763\/","title":{"rendered":"Baron Property Group Nabs Refi for Hialeah Rental Complex"},"content":{"rendered":"

Baron Property Group secured a $226.5 million refinancing for an apartment development in Hialeah that\u2019s nearly 50 percent leased.<\/p>\n

Madison Realty Capital and Yellowstone Real Estate provided the refinancing to the New York- and Miami-based developer for the 559-unit Metro Parc complex at 952 East 26th Street, which replaced the development\u2019s construction loan and serves as bridge financing until permanent debt is secured, according to a news release. HKS and DIA advised Baron, and Ben Suky arranged the financing.<\/p>\n

The debt amounts to over $405,000 per unit.<\/p>\n

Metro Parc is the first phase of the developer\u2019s planned 2.3 million-square-foot mixed-use development in Hialeah. Metro Parc North, the project\u2019s second phase, recently topped out and is slated for completion in late 2027.<\/p>\n

Baron, led by Matthew Baron, and MG Developer, led by Alirio Torrealba, completed the 10-story Metro Parc apartment building near Metro Parc North last year. They scored a $148 million<\/a> construction loan for the project in 2022, which was upsized to $161.5 million two years later.\u00a0<\/p>\n

The developer initially partnered with Coral Gables-based MG Developer on the Metro Parc North project at 901 East 26th Street, but bought out<\/a> MG Developer\u2019s 50 percent stake in the project for an undisclosed amount in December 2024.\u00a0<\/p>\n

Baron landed a $206 million<\/a> construction loan in March 2025 from Stamford, Connecticut-based Post Road Group for Metro Parc North, an eight-story building with 661 units.<\/p>\n

Designed by Modis Architects, the complex has 15,000 square feet of retail near the Metrorail and Tri-Rail transfer stations. It includes studio, one-bedroom and two-bedroom units between 475 square feet to 1,020 square feet. Amenities include a pool, fitness center, coworking space, concierge service, bike storage and parking.\u00a0<\/p>\n

Rents range from $1,916 to $3,369 per month, according to Apartments.com<\/a>. The retail will be anchored by Mr. Baker, a Miami-based Cuban bakery chain that is expected to open later this year.<\/p>\n

On its own, MG Developer plans the 10-story, 347-unit Metro Parc South<\/a> on an assemblage at 965, 975, 981, 991 and 997 East 24th Street, as well as at 934 and 954 East 25th Street, in Hialeah. It secured $105 million<\/a> for construction in April 2025.<\/p>\n

\tRead more
\n\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tDevelopment\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n

Baron scores $206M construction loan for 661-unit apartment project in Hialeah<\/p>\n

\t\t\t<\/a>
\n\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\"MG\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tDevelopment\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n

MG Developer lands $105M construction loan for Hialeah multifamily project<\/p>\n

\t\t\t<\/a>
\n\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\"Matthew\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

MG Developer, partner score $148M loan for Hialeah apartments<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Baron Property Group secured a $226.5 million refinancing for an apartment development in Hialeah that\u2019s nearly 50 percent…\n","protected":false},"author":2,"featured_media":358764,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226,146297],"class_list":["post-358763","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news","tag-metro-parc-hialeah-refinancing"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/358763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=358763"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/358763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/358764"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=358763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=358763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=358763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}