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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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Negotiations Lead to $1 Billion Deal

November 4, 2015

$14 million kicker seals $1 billion 4-tower deal Miami commissioners have approved a large mixed-use development on the Miami River that is expected to revive a city park, extend the public riverwalk, connect Brickell and Little Havana and bring jobs and tax revenue to the city. Called simply Miami River, the complete build-out will add more than 1,600 residential units to the growing urban core. The final vote came Oct. 22. Between the first and the final votes, Commissioner Frank[...]

Developer Buys Surfside Condo Building

November 3, 2015

Surfside condo tower sells for $55 million; developer plans to rebuild If you live in an old building on South Florida’s prime waterfront, don’t get too comfortable: Developers want your sand. In the latest mega-deal to happen on the beach, a New York-based developer said he has struck a $55 million deal to buy a modest Surfside condo building that dates to the 1960s. His plan? Tear it down and build a luxury 12-story condo tower. Surf House, at 8995[...]

Bercow Client Wins Project Approval

October 23, 2015

Chetrit’s $1B Miami River project wins city approval Mixed-used site to include four towers, hotel, shops, restaurants, and public river walk New York-based Chetrit Group and local developer Ari Pearl’s plans for a $1 billion Miami River project have moved a step closer to reality. The Miami City Commission late Thursday unanimously approved a development agreement and rezoning of a 10-acre site where Pearl and the Chetrit Group plan to build the mixed-used site that includes four towers, a hotel, shops, restaurants,[...]

Aventura Commission Approves Plan

October 12, 2015

Aventura commission approves plan to renovate parts of Turnberry Isle Resort The Aventura city commission on Tuesday approved a plan to redevelop parts of Turnberry Isle Resort. In the plan, the Orchard Hotel will be demolished and replaced with a new 16-story, 275-room building. The resort will also build a two-story conference center and make improvements to the current garage space. The renovations to the country club have been in the works since February, resort representatives said. “As the hotel[...]

Miami Commission Advances Project

September 17, 2015

Four Riverfront Towers of 58-60 Stories Likely Another billion-dollar development is poised to change Miami in a big way and has garnered preliminary approval from city commissioners. Called simply Miami River, the mixed-use project would bring hotel rooms, apartments, retail stores, restaurants and offices to the southern bank of the river that meanders through the heart of the city. The developers promise a big and beautiful public riverwalk and an improved city park, and say the project will connect booming Brickell[...]