HIALEAH, FLA. — MG Developer has obtained a $105 million construction loan for Metro Parc South, a 347-unit apartment community located at 954 and 934 E. 25th St. in Hialeah, a suburb of Miami. The multifamily project will be part of MG Developer’s 2.3 million-square-foot Metro Center master project that also includes the 10-story Metro Parc tower, the 55-unit Metro Station and the 620-unit Metro Parc North community.
New York-based SCALE Lending, the debt financing arm of Slate Property Group, provided the new loan to MG Developer, which plans to break ground on Metro Parc South in the second quarter. The development will comprise studio, one- and two-bedroom apartments. The design-build team includes Miami-based Modis Architects and Coral Gables-based KAST Construction.