MG Developer, one of Miami’s premier real estate development firms, announces it has secured $105 million in construction financing for Metro Parc South, a 347-unit transit-oriented multifamily community in Hialeah, Florida that forms part of MG Developer’s Metro Center master project. New York-based SCALE Lending, the debt financing arm of Slate Property Group, provided the new loan.
SCALE, a direct lender providing first mortgage financing secured by commercial real estate, has financed more than $3B in loan originations for residential projects. Speaking to institutional confidence in MG Developer, the financing of Metro Parc South is part of SCALE Lending’s continued entry into the Miami market, working with established firms like MG Developer on compelling projects in high-growth 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, share vision, and institutional support at the highest level.”
Scheduled to break ground in Q2 2025, the community will be a part of the master-planned Metro Center project, complementing other communities
such as Metro Parc, a 10-story, 559-unit, two-tower mixed-use apartment rental community located at 955 East 25th Street and 980 East 26th Street, as well as Metro Parc North, a 620-unit multifamily building located in the block directly to the 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,” added 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, Slate Property Group.
Upon completion of all three communities, Metro Center will become a landmark development comprising nearly 2.3 million square feet of upscale apartments and retail space revitalizing Hialeah and its community. Contributing to this renaissance are Baron Property Group and SP Developments, bringing a new wave of housing that meets the needs of the city and its residents. Within Metro Center, MG Developer is also building Metro Station, a 55-unit building, that is another transit-oriented multifamily community located at 2691 East 11th Avenue.
The design and construction team for Metro Parc South includes Miami-based Modis Architects and Coral Gables-based KAST Construction.
