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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CLIENT NEWS: Billionaire Patrick Dovigi pays $28M for waterfront Sunset Islands home

April 15, 2025

Waste management mogul Patrick Dovigi purchased a waterfront estate in Miami Beach for $27.5 million, about a month after he sold his Bal Harbour mansion. Dovigi, one of Canada’s wealthiest businessmen, bought the 11,340-square-foot, seven-bedroom and nine-bathroom mansion at 1525 West 24th Street on the Sunset Islands through an LLC, property records show. A land trust managed by David A. Bradley sold the 0.6-acre property. Dovigi’s entity financed the purchase with a $19.3 million mortgage from J.P. Morgan. The house,[...]

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CLIENT NEWS: Terra, Turnberry score $392M construction loan for Miami Beach convention center hotel

April 15, 2025

David Martin and Jackie Soffer’s long-planned convention center hotel in Miami Beach is moving forward. Martin’s Terra and Soffer’s Turnberry secured a $392 million construction loan from Adi Chugh’s Tyko Capital, according to sources. The developers plan to build a 17-story, 800-room hotel next to the Miami Beach Convention Center. The loan was first reported on the Bloomberg Terminal. Tyko, which has become an increasingly active lender in South Florida, is a joint venture between debt broker Chugh and billionaire[...]

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CLIENT NEWS: A Miami Beach hospital is expanding across the bay. What to know about health center.

April 3, 2025

Mount Sinai Medical Center plans to open a new freestanding ER, followed by a full-serve hospital and doctors’ offices, in a Miami-Dade community that’s home to more than 50,000 people. Construction of the four-story medical center is underway just off Southwest Eighth Street near the Palmetto Expressway in Westchester, a mostly residential neighborhood filled with homes, schools, parks and businesses. This will be Mount Sinai’s second hospital in South Florida. “We want to serve our patients the best we can[...]

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CLIENT NEWS: Miami Beach’s vanished, iconic Deauville Hotel is poised for an ‘even better’ return

March 24, 2025

The improbable return of Miami Beach’s iconic Deauville Hotel, demolished by implosion in 2022, has come one big step closer to becoming reality. And for North Beach residents and preservationists still reeling from the loss of the historic MiMo hotel, best known as a launching pad to fame for the Beatles, it’s like they can’t believe their luck. In a public hearing that might well be described as a love fest, Beach residents and city commissioners ardently embraced an unusually[...]

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CLIENT NEWS: Baron scores $206M construction loan for 661-unit apartment project in Hialeah

March 24, 2025

Baron Property Group scored a $206 million construction loan for the Metro Parc North apartment project in Hialeah. The New York-based firm is building the eight-story building with 661 units at 901 East 26th Street, according to a Baron news release. Construction started last month, and is expected to be completed in late 2027. Stamford, Connecticut-based Post Road Group is the lender, the release says. Ayush Kapahi of HKS Real Estate Advisors represented the borrower and lender. Designed by Modis[...]

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