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CLIENT NEWS: MG Developer lines up $39M loan to build Coral Gables townhome project

July 17, 2025

MG Developer’s pipeline keeps pumping along as Alirio Torrealba’s firm is about to score a $39 million construction loan for a Coral Gables townhome project. Miami-based Pine Bay Capital is providing the financing for The George, a planned development of 13 two-story townhouses at 717 Valencia Avenue that represents the final phase of MG Developer’s Biltmore Square community, a press release states. The loan is set to close soon, an MG Developer spokesperson said. Coral Gables-based MG Developer already completed[...]

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The Clay Hotel to undergo major renovation

May 22, 2017

The Clay Hotel in Miami Beach to undergo major renovation Project to include adding a roof deck, new stairwells, reconfiguring lobby UPDATED May 11, 11:30 p.m.: The Miami Beach Historic Preservation Board this week approved an extensive renovation of the 92-year-old Clay Hotel that borders popular Espanola Way. Clay Hotel Partnership Ltd. and Infinity Real Estate submitted plans for a phased renovation of a cluster of retail and hotel buildings at 1435 Washington Avenue that are currently known as The Clay[...]

New retail projects proposed on Lincoln Road and at Miami Beach hotel

April 12, 2017

1657 Michigan Avenue/947 Lincoln Road Two retail projects have been proposed in Miami Beach, one on Lincoln Road and the other at the Continental Hotel. Both applications went before the city’s Historic Preservation Board on Monday and will possibly be voted on at the board’s June 12 meeting. The two-story building at 1657 Michigan Avenue, which has a corner fronting Lincoln Road, was built in 1925 and is currently 8,625 square feet of retail and residential in two stories. Owner[...]

Developer proposes 308 apartments in Miami-Dade

April 11, 2017

A company led by Delray Beach developer Anthony V. Pugliese III wants to build an apartment complex just east of U.S. 1 in Palmetto Bay. The city will hold a zoning hearing on April 17 to consider the application for Park View on the 3.14-acre site at 9420, 9450 and 9500 S.W. 174th Street. The property currently has two single-family homes and a daycare facility separately owned by Jorge L. Morales, Pedro and Linette Gonzalez, and Raggedy Ann and Andy’s Pre School. The application[...]

Historic Buena Vista Post Office building in Miami’s Design District sells for $8.1M

April 6, 2017

4000 Northeast Second Avenue and Lyle Chariff The historic Buena Vista Post Office building in Miami’s Design District just sold for $8.125 million, marking a near-record price per square foot in the redeveloping neighborhood, The Real Deal has learned. The 2,287-square foot building at 4000 Northeast Second Avenue, which was the former site of the Billionaire clothing store, sold for $3,553 per square foot to a New York-based investment group that represents foreign investors, Chariff Realty Group President Lyle Chariff told TRD. The buyers are part[...]

Firm Represented Owner on Entitlements

March 22, 2017

New tenants and expansion in Doral office building could create 200 jobs Five companies have opened new locations and another firm has expanded in the One Park Square office building in Doral. This recent leasing activity in the building, at 3470 N.W. 82nd Ave., should create about 200 jobs based on the floor plates of the companies, Blanca Commercial Real Estate CEO Tere Blanca said. She teamed with her firm’s Danet Linares and Andres Del Corra to broker the leases on behalf of landlord New Boston Fund.[...]