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Transactions - MAY 18, 2022

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MG Developer to develop $204m luxury mixed-use multifamily asset in Miami

by Released

MG Developer and its partner The Baron Property Group have plans to build a new, luxury residential, two-tower high-rise in Miami named Merrick Parc.

Merrick Parc is a $204 million multifamily development that will rise on a 43,785-square-foot site in close proximity to The Shops at Merrick Park, and the University of Miami. The project is located within the City of Miami that borders the area of Coral Gables.

This highly amentized mixed-use project will consist of 450 luxury rental units, including studios, one- and two-bedroom apartments with parking, retail space for shops, and dining venues. The architectural team overseeing the design is Behar & Font.

“We are seeing a critical demand for luxury rental units in Miami, and we want to ensure we fulfill that need, while growing our real estate portfolio, particularly our rental division,” said Alirio Torrealba, CEO and founder of MG Developer. “We’ve been ‘building beautiful’ in Coral Gables, w

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