Home›Real Estate›Residential›Baron Property Group refinances Metro Parc in Hialeah…

Baron Property Group refinances Metro Parc in Hialeah for $226.5M

The refinancing replaces Metro Parc’s construction loan and acts as a bridge to permanent financing as the 559-unit project continues leasing.

Reported · Written up by our desk · Residential

Baron Property Group has closed a $226.5 million refinancing for Metro Parc, a mixed-use development in Hialeah that includes rental residences, amenities, and retail space, according to ConnectCRE.

The new financing replaces the project’s construction loan and is intended as a bridge to permanent financing, with Madison Realty Capital and Yellowstone Real Estate providing the refinance and Ben Suky arranging the deal.

Metro Parc is the first phase of Baron’s 2.3 million square foot mixed-use megadevelopment in Hialeah, and it features leasing studio, one- and two-bedroom residences.

The property offers 15,000 square feet of retail space anchored by Mr. Baker, a Cuban bakery expected to open later this year, while the adjacent Metro Parc North phase recently topped out and is on track for completion in late 2027.

More like this

Sources