Baron Property Group has secured $226.5 million in refinancing for Metro Parc, a 559-unit mixed-use rental development at 952 East 26th Street in Hialeah. Designed by Modis Architects, the two-tower, 10-story property was delivered in 2025 and is currently nearing 50 percent leased.
Madison Realty Capital and Yellowstone Real Estate provided the refinancing package, which replaces the property’s $148 million construction loan from Post Road Group and serves as a bridge to permanent financing. Madison Realty Capital provided $125 million in senior financing, while Yellowstone Real Estate contributed a $101.5 million preferred equity investment. HKS Real Estate Advisors and DIA Capital Group served as advisors to Baron Property Group, and Ben Suky of Bensco arranged the financing.
Credit: Baron Property Group.
“The successful refinancing of Metro Parc allows us to build on the property’s strong leasing momentum and continue advancing our long-term vision for Hialeah,” said Matthew Baron, President and Founder of Baron Property Group. “This milestone reflects the strength of this offering and the confidence our partners have in the neighborhood’s continued growth.”
Metro Parc represents the first phase of a broader 2.3-million-square-foot mixed-use development planned around the Hialeah Metrorail and Tri-Rail transfer stations. The property contains studio, one-bedroom, and two-bedroom apartments, along with more than 15,000 square feet of ground-floor retail space. Residential amenities include a swimming pool with private cabanas, an outdoor courtyard with grills, a fitness center, coworking areas, bicycle storage, parking, and 24-hour concierge service.
Mr. Baker, a Cuban bakery with nine locations throughout the Miami area, is slated to anchor the retail component with a 1,760-square-foot location expected to open later this year.
Credit: Baron Property Group.
“Today’s multifamily market continues to reward projects that combine thoughtful design, strong connectivity, and experienced execution,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “Metro Parc reflects those characteristics, delivering high-quality housing in one of South Florida’s most dynamic submarkets. We are pleased to support Baron Property Group through this next phase of the development.”
Immediately north of the property, construction is progressing on Metro Parc North, the 661-unit second phase of the development at 955 East 26th Street. The Modis Architects-designed building topped out earlier this year and is scheduled for completion in late 2027. Combined, Metro Parc and Metro Parc North account for more than two million square feet of development near the Hialeah Metrorail station and Hialeah Hospital.
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