By james art 
The Baron Property Group has a loan for construction worth $ 206 million for the Metro Parc North apartment project in Hyalea.
The New York -based company builds an eight -storey building with 661 units of 901 East 26th Street, according to a Baron News message. Construction started last month and is expected to be completed at the end of 2027.
Stamford, based on the Post Road Group Connecticut, is the creditor, the message said. Ayush Kapahi of HKS real estate advisers represented the borrower and the creditor.
Designed by Modis Architects, Metro Parc North will offer studios and units with one bedroom up to three bedrooms.
Baron, led by Matthew Baron, originally partnered with the Coral Gables MG project developer. In December, Baron bought the 50 -percent share of MG Developer in the project for an undisclosed amount.
Baron and Mg programmer, led by Alio Torreba, have partnered in the 10-storey PARC subway with 559 units, completed this year near Metro Parc North. The duo scored a $ 148 million construction loan for the 2022 project.
Independently, MG Developer plans the 10-storey, 347-single Metro PARC to the south of assembly on 965, 975, 981, 991 and 997 Eastern 24th street, as well as 934 and 954 Eastern 25th street, in Hyalea.
The financing of construction in South Florida is taking place, despite increased interest rates. This month, investments on the 13th floor and the JSB Capital Group scored $ 67.5 million for the construction of five condominiums, 383-single parks in the DAVIE apartment complex with some workforce apartments in the northwestern corner of Davi Road and Southwestern 37 Street near Brahoir Range. This appeared on the heels of TM Real Estate, marking a $ 53.5 million construction loan for the 250-one Shalimar at the Boynton Beach Rental Complex with 10 three-storey and four-storey buildings on 3570 West Boynton Beach Boulevard at Boynton Beach.