Miami-based MG Developer has announced the securing of $105 million in construction financing for Metro Parc South, a forthcoming 347-unit transit-oriented multifamily development in Hialeah, Florida. The project is part of the larger Metro Center master plan and will be developed with financing provided by New York-based SCALE Lending, the lending arm of Slate Property Group. Metro Parc South is being designed by Modis Architects, based in Miami, with Coral Gables-based KAST Construction serving as the general contractor.
SCALE Lending, which specializes in first mortgage financing secured by commercial real estate, has originated more than $3 billion in residential project loans to date. The financing for Metro Parc South reflects SCALE Lending’s continued expansion into the Miami market, working with established firms like MG Developer in high-growth urban areas.
“Our team is proud to have secured this construction loan through SCALE Lending as our financial partner for Metro Parc South,” said Alirio Torrealba, CEO of MG Developer. “This alliance represents more than just financing—it is a testament to trust, shared vision, and institutional support at the highest level.”
Located at 954 and 934 East 25th Street, Metro Parc South will deliver a mix of studio, one-bedroom, and two-bedroom apartments. Groundbreaking is scheduled for the second quarter of 2025. The building will join two other developments within Metro Center: Metro Parc, a two-tower, 10-story, 559-unit mixed-use community located at 955 East 25th Street and 980 East 26th Street; and Metro Parc North, a 620-unit multifamily project located directly north of Metro Parc.
“For us—having introduced communities like Metro Parc in Hialeah, with a social mission, high-quality design, and a human-centered approach—this partnership is a profound validation of our work,” said Diego Torrealba, Executive Vice President of MG Developer. “MG Developer was founded with the idea of transforming cities through soulful projects. Today, with the support of partners like SCALE Lending, we take another step forward on that path.”
“Hialeah is a very strong and growing market and given MG Developer’s ability to transform high-profile parcels of land into vibrant communities, it was an easy decision to team up with them on this project,” said Daniel Ridloff, Managing Director at Slate Property Group.
Upon full buildout, Metro Center will encompass nearly 2.3 million square feet of residential and retail space, contributing significantly to the ongoing revitalization of Hialeah. The master plan includes contributions from Baron Property Group and SP Developments, further supporting the city’s evolving housing landscape. In addition to Metro Parc, Metro Parc North, and Metro Parc South, MG Developer is also constructing Metro Station, a 55-unit transit-oriented development located at 2691 East 11th Avenue.
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