MG, Vertical score $100M construction loan for Coral Gables mixed-use
MG Developer and Vertical Developments landed a $100 million construction loan for Alhambra Parc, a mixed-use luxury condo project in Coral Gables. Miami-based Benmark Capital provided the financing for the eight-story development at 33 Alhambra Circle, according to a news release. Berkadia’s Scott Wadler and Bobby Dockerty arranged the three-year loan on behalf of the developers. The financing includes two options to extend the loan’s maturity date. MG Developer, led by Alirio Torrealba, scored a $14.5 million preconstruction loan for the project in October 2023. Torrealba partnered with co-developer Fernando de Nuñez y Lugones’ Vertical Developments for the project and […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
America’s accidental landlords: The hidden consequence of the mortgage lock-in effect
Gaining that local edge to outperform competition amid market consolidation
Affiliated scores $74M construction loan for Fort Lauderdale Live Local project as lending thaws
Why Red Tape Reform Is Key to the Housing Bill’s Success
Savannah Guthrie Begs Mom Nancy’s Abductors to ‘Help Us Find Her’—Nearly 6 Months After 84-Year-Old Was Taken from Her Home
Allapattah on deck: CRA targets $243M for infrastructure, affordable housing
Ross makes his first Live Local move after years of office, condo development
New York City posts notice of new tax levy to pied-a-terre owners
NYC Wants Landlords To Disclose AI-Edited Listing Photos—Could Your City Be Next?
Josh Duhamel Reveals He ‘Still Has’ Home in L.A. After Selling Bachelor Pad—but Admits He Plans To Quit California as Soon as His Son Is 18
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131