Baron nabs $227M refi for Hialeah rental complex as nearby development advances

Baron Property Group secured a $226.5 million refinancing for an apartment development in Hialeah that’s nearly 50 percent leased. Madison Realty Capital and Yellowstone Real Estate provided the refinancing to the New York- and Miami-based developer for the 559-unit Metro Parc complex at 952 East 26th Street, which replaced the development’s construction loan and serves as bridge financing until permanent debt is secured, according to a news release. HKS and DIA advised Baron, and Ben Suky arranged the financing. The debt amounts to over $405,000 per unit. Metro Parc is the first phase of the developer’s planned 2.3 million-square-foot mixed-use […]

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