Doral Parc is a joint venture between MG Developer and Latin American developer Ernesto De Lucas

Miami’s real estate leaders convene for an insightful discussion on the future of South Florida's capital markets and commercial real estate finance

MG Developer, a prominent name in real estate development and community advocacy, successfully hosted a pre-event cocktail reception with Miami’s real estate elite, followed by their participation in Bisnow's “South Florida Capital Markets & CRE Finance” conference featuring MG Developer's Executive Vice President, Diego Torrealba. Torrealba, who led the panel discussion by bringing together industry experts, discussed South Florida’s dynamic and evolving real estate market that has attracted new residents and capital from around the world.

The cocktail reception, held at MG Developer’s stunning showroom for The Village residences in Coral Gables, was a resounding success. Commercial and residential real estate industry leaders and professionals from across South Florida gathered to network and engage in meaningful conversations within a vibrant setting.

“What’s happening in South Florida is nothing short of the hard work and dedication by many in our community to make this one of the most dynamic places to live, work, and play anywhere in the world,” said Diego Torrealba. “As residents seek a family-friendly lifestyle with global amenities, MG Developer’s numerous projects have been designed to exceed expectations with classic yet contemporary architecture, proximity to high-end restaurants and dining, and an appreciation of Coral Gables’ unique charm that makes it wholly distinct.”

MG Developer took the lead in Bisnow's event focused on the capital markets and commercial real estate finance landscape in South Florida. Diego Torrealba shared his expertise on the market's current trends, challenges, and opportunities, providing a comprehensive analysis and outlook for the future.

Following in the footsteps of his father, MG Developer founder and CEO Alirio Torrealba, Diego has made significant strides in real estate development, emphasizing community engagement and sustainable development practices. His insightful commentary on MG Developer’s projects, particularly The Village at Coral Gables, highlights the firm’s commitment to enhancing community living while preserving the unique charm of historic neighborhoods.

MG Developer has cemented its reputation as a leader in South Florida’s real estate market. Founded in 2015, the company has completed or has in development $1 billion worth of projects, focusing on creating luxurious residences inspired by Mediterranean and Spanish Colonial architecture. Their strategic approach and emphasis on quality over quantity have significantly shaped Coral Gables and expanded their influence into Hialeah and Miami-Dade County.

The successful cocktail reception and insightful panel discussion underscore MG Developer’s pivotal role in shaping the future of South Florida’s real estate landscape.

For more information, please visit www.MGDeveloperMiami.com.

About MG Developer

MG Developer is a residential property development company based in Coral Gables, Florida. Led by Alirio Torrealba, the firm is a subsidiary of MG Capital. It provides and implements a comprehensive array of real estate-oriented services, from concept creation and property site selection to project advancement. As a member of the Coral Gables community, MG Developer is committed to the beautification of the city and supports its Art in Public Places program. The firm is an advocate of public exhibitions throughout Coral Gables that enhance the area’s unique lifestyle and design and is also a proponent of philanthropic efforts and organizations that elevate the city’s standard of living, including the Coral Gables Community Foundation and FundaHigado.

Today, the area of Coral Gables where MG Developer developed Biltmore Parc has been named Biltmore Square. It includes five other boutique projects with Mediterranean and Spanish Colonial architecture, including the latest under development known as The George.

Across Miami-Dade County, MG Developer’s ability to recognize opportunities and collaborate with investors has propelled the company’s expansion into more significant rental developments, most notably with their Metro Parc multifamily development in Hialeah.

For more information, please visit www.mgdevelopermiami.com.

MG Developer, a prominent name in real estate development, recently led BisNow’s “The Future of Coconut Grove and Coral Gables” conference. Bringing together industry experts to discuss how these historic neighborhoods have evolved to outshine the surrounding urban core, MG Developer Executive Vice President Diego Torrealba – the youngest of the entire panel – thoughtfully elaborated on these neighborhoods with a visionary analysis and outlook of each community.

Diego Torrealba, who is following in the career footsteps of his father Alirio Torrealba, emphasized the firm’s development process and its conscious engagement with the community, a principle engrained in MG Developer’s ethos.

This dynamic event brought together industry experts to discuss the evolution of these historic neighborhoods. It was here that Diego Torrealba, the youngest and most energetic panelist, captured the audience's attention with his insightful commentary and visionary outlook.

“We have found that the more you involve the community from the very onset, the better our understanding becomes of the approval process and entitlements,” said Diego Torrealba. “Our current project, The Village at Coral Gables, actually took three years to assemble. We could do 55 to 60 units at that site, but we only did 48 because we noticed that’s what the community really needed to keep its suburban feel. We have found that the more you involve the community from the very onset, the easier the process is going to be into the approval process and entitlements.”

MG Developer’s Role in Coral Gables

MG Developer has become a prominent residential developer in Coral Gables, paying homage to the city’s visionary founder, George Merrick. Founded by Alirio Torrealba in 2015, MG Developer has significantly impacted the real estate landscape with projects prioritizing quality and architectural coherence.

“We don't think of how a project can fit into the Coral Gables community. We know what the Coral Gables community wants,” added Torrealba. “It’s not really a balance, we work within that style an ensure we are aligned in vision and Coral Gables distinct aesthetic values.”

The company’s project currently taking shape in the City Beautiful is The Village at Coral Gables, which aims to create the city’s eighth village with a mix of 48 units, including villas, townhomes, lofts, and flats. This project continues MG Developer’s tradition of elevating enclave living with luxurious and aesthetically pleasing residences inspired by Mediterranean and Spanish Colonial architecture.

Focusing on innovation in home living, MG Developer also plays an active role in minimizing disruptions to the community during construction, emphasizing thoughtful and responsible development. “We actually bought a bus for 50 to 60 people to drive workers onsite and then at the end of the day, get picked up and dropped off to return home.

MG Developer is a Coral Gables-based real estate development company known for its high-quality residential projects. Focusing on classical Mediterranean/Spanish Colonial architecture, MG Developer is committed to creating communities that reflect the elegance and charm of Coral Gables. The company’s strategic approach and dedication to superior quality vs. quantity have positioned it as a leader in South Florida’s real estate market.

“Our residences are the perfect place for newcomers to settle in and enjoy warm weather, ample indoor and outdoor space, all while being in proximity to the city’s core of luxury lifestyle amenities,” added Torrealba. “From golf to shopping and dining, residents of MG’s enclaves in Coral Gables truly get to enjoy all the privileges of sophisticated living. We have always prioritized quality over quantity, especially in terms of quality of life. Our goal isn't to maximize density for greater returns, but to enhance our residents' experience and offer a truly elevated lifestyle," concluded Torrealba.

In the last few years, the company has emerged as one of the most prolific developers in South Florida. It has $1 billion in projects that have been completed or are in the development phase, and today, it is considered the most active residential developer in Coral Gables, paying homage to George Merrick, the visionary founder of The City Beautiful.

Today, the area of Coral Gables where MG Developer developed Biltmore Parc has been named Biltmore Square. It includes five other boutique projects with Mediterranean and Spanish Colonial architecture, including the latest under development, The George. The company’s strategy in Coral Gables isn’t about maximizing density. MG Developer builds larger townhome residences with architecture inspired by George Merrick, who planned and developed the city in the 1920s.

With MG’s most significant project yet in Coral Gables, the company aims to create the city’s eighth village, as Merrick established seven distinct villages.

MG Developer's impact on Coral Gables' real estate landscape is palpable. Their strategic approach, focusing on quality over quantity, has paved the way for ventures in Hialeah, where MG Developer converted blocks of homes into multifamily projects. MG’s ability to recognize opportunities and collaborate with investors has propelled the company’s expansion into more significant rental developments throughout Miami-Dade County.

The company’s journey exemplifies resilience, vision, and a deep understanding of the ever-evolving real estate market in South Florida.

For more information, please visit www.MGDeveloperMiami.com.

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About MG Developer

MG Developer is a residential property development company based in Coral Gables, Florida. Led by Alirio Torrealba, the firm is a subsidiary of MG Capital. It provides and implements a comprehensive array of real estate-oriented services, from concept creation and property site selection to project advancement. As a member of the Coral Gables community, MG Developer is committed to the beautification of the city and supports its Art in Public Places program. The firm is an advocate of public exhibitions throughout Coral Gables that enhance the area’s unique lifestyle and design and is also a proponent of philanthropic efforts and organizations that elevate the city’s standard of living, including the Coral Gables Community Foundation and FundaHigado.

Today, the area of Coral Gables where MG Developer developed Biltmore Parc has been named Biltmore Square. It includes five other boutique projects with Mediterranean and Spanish Colonial architecture, including the latest under development known as The George.

Across Miami-Dade County, MG Developer’s ability to recognize opportunities and collaborate with investors has propelled the company’s expansion into more significant rental developments, most notably with their Metro Parc multifamily development in Hialeah.

For more information, please visit www.mgdevelopermiami.com.

MG Developer, a leading real estate development firm, has successfully closed a $10 million loan for the acquisition of prime land in Coral Gables. This strategic move is a testament to the visionary work of MG Developer which marks a significant milestone, as it sets the stage for the development of 13 more exclusive ultra-luxury townhomes. Named after George Merrick, “The George” will truly be a work of art and will become the crown jewel of the master-planned “Biltmore Square” community. Designed by De La Guardia, whose award-winning designs have received recognition throughout the world, including for MG Developer’s renowned Beatrice Row, also located in the Biltmore Square enclave in 2021.

Alirio Torrealba, CEO of MG Developer, expressed his excitement about the project, stating, "We are thrilled to embark on this journey to create 'The George,' a collection of ultra-luxury townhomes that will set a new standard for opulent living in Coral Gables. The support from our financial partners and the Coral Gables community continue to be instrumental in making this vision a reality."

The 13-townhome enclave will be known as "The George," and is poised to redefine luxury living in Coral Gables. With meticulous attention to detail and a commitment to exceptional design, MG Developer envisions "The George" as a testament to the epitome of sophistication and comfort.

Key highlights of "The George" include:

Master Planned Excellence: Nestled within the prestigious Biltmore Square community, "The George" is located at 717 Valencia Avenue, and complements and completes the vision of an impeccably planned, upscale residential neighborhood by MG Developer, that is in walking distance to Miracle Mile, Downtown Coral Gables, the Biltmore Hotel, and hundreds of upscale restaurants and boutiques.

Ultra-Luxury Living: Each townhome will boast a sleek aesthetic with top-of-the-line features and finishes, offering residents an unparalleled living experience. Spacious layouts, high-end appliances, and curated interiors are just a glimpse of the lavish lifestyle "The George" will provide.

Groundbreaking in Q3 2024: Anticipated to break ground in the third quarter of 2024, this townhome collection is set to become a landmark development in Coral Gables. "The George" pays homage to the visionary real estate developer George Merrick. Renowned as the planner and builder of the city of Coral Gables, Florida in the 1920s, George Merrick is celebrated for creating one of the first major planned communities in the United States. MG Developer's decision to name these 13 ultra-luxury townhomes after George Merrick reflects a commitment to honoring his rich history and legacy he left for Coral Gables.

As MG Developer prepares to bring "The George" to life, the company remains dedicated to its mission of enhancing communities through innovative and quality developments. MG Developer actively elevates Coral Gables’ culture and aesthetic with each new property they develop to fit within the city’s discerning aesthetic values and tradition.

Metro Parc North is MG’s third project at their Metro Center Community 

MG Developer, now the most active developer in Hialeah and Coral Gables, announces it has secured an $18 million loan for its third transient-oriented multifamily development, Metro Parc North, a 663-unit multifamily in Hialeah, located at the entire block that includes, 901 E 26th Street, Hialeah, FL. This significant milestone marks MG Developer's commitment to expanding its presence in the region and contributing to the development of high-quality, transit-oriented housing solutions.

Principal and Founding Partner Ayush Kapahi of HKS and Executive Vice Presidents Jeffery Donnelly and Dmitry Levkov of Colliers International secured the financing. RMWC provided the loan.

Metro Center will provide nearly 1,600 attainable contemporary apartments to the City of Hialeah that will be within walking distance of the Metrorail and Tri-Rail Transfer Station. MG’s first multifamily building, Metro Parc, is a 560-unit, 10-story building that broke ground in 2022. Metro Parc North, with 663 apartments will rise next to Metro Parc at 983 East 26th Street and is expected to be completed in 2026. Metro Parc South, a 347-unit building, the latest of MG’s transit-oriented multifamily communities to be unveiled will be located at 954 & 934 E 25th Street and is slated for completion in 2027.

MG Developer has been working closely with the city of Hialeah to bring high-quality transit-oriented housing to the community, which will contribute to a more vibrant urban lifestyle while helping alleviate traffic in the area. The City of Hialeah is moving from the City of Progress to a “Forward-Thinking” Miami that is ideal for young professionals who want a lifestyle where they can walk to parks, dine, work, and play and be only a short distance from just about anywhere in South Florida by commuting by train.

“We are extremely proud to work collaboratively with the City of Hialeah and continue bringing projects to life in Hialeah that further our vision of a modern and transient lifestyle in this city,” said Alirio Torrealba, CEO and founder of MG Developer.

MG Developer and Baron Property Group’s acquisition of Metro Parc in 2021, marked the start of the company’s multifamily rental division. MG is committed to fulfilling the demand in the City of Progress for high-quality housing in the area while also giving residents the ability to commute easier and faster. This has now been further solidified with Metro Station and now Metro Parc North.

When completed, Metro Center will be considered Hialeah’s modern living lifestyle center that will boast more than 35,000 square feet of ground floor commercial space ideal for restaurants, cafes, boutique shops, health & fitness outlets, as well as a specialty market, all in the heart of Hialeah. It will also be a short distance from Hialeah Hospital, Amelia Earhart Park, Factory Town, and only 15 minutes from Miami International Airport. The entire Metro Center complex is expected to be completed in 2027. Projects within MG’s Metro Center community are slated to be completed between 2025 through 2027.

Led by Venezuelan native Alirio Torrealba, MG Developer is a residential property development company headquartered in Coral Gables, Florida that currently has $1 billion in development and another $424 million in the pipeline. MG Developer provides a comprehensive array of real estate-oriented services, from concept creation and property site selection to project advancement. MG Developer currently has several projects completed and in planning throughout South Florida and continues to be Coral Gables’ most active residential developer.

For more information, please visit www.MGDeveloperMiami.com.

MG Developer, led by Alirio Torrealba, announces the successful groundbreaking ceremony and Harvest Festival for The Village at Coral Gables, the highly anticipated residential development that pays tribute to the aesthetic beauty and lifestyle of Seville, Spain, and continues the legacy of the dreamer and founder of Coral Gables, George Merrick, and his vision for “The City Beautiful.”

The groundbreaking ceremony, which took place on Saturday, September 16 at 504 Malaga Avenue, marked the official commencement of construction for this remarkable enclave. The event was graced by more than 600 esteemed guests, including Coral Gables Mayor Vince Lago, President of Coral Gables Chamber of Commerce, Mark Trowbridge, the project's exclusive sales partner: Founder and CEO of One Sotheby’s International Realty, Mayi de la Vega and President Daniel de la Vega, residents, and neighboring residents and buyers.

“I’m beyond words today. I feel truly proud to be able to celebrate the groundbreaking of The Village at Coral Gables with all of you and share in this auspicious occasion,” said Alirio Torrealba, CEO and Founder of MG Developer. “It’s been a true labor of love for me, and for everyone at MG Developer, my family, our partners, our investors, the entire community. They have all entrusted us to build a beautiful enclave that is part of the vision George Merrick had when he founded Coral Gables in 1925 and that is exactly what we are doing now.”

Coral Gables Mayor Vince Lago added, “The Village at Coral Gables is a testament to the rich cultural heritage of our city. George Merrick’s vision for ‘The City Beautiful’ lives on in this exceptional project. I am immensely proud of Alirio for his dedication in bringing his vision to life, creating a lasting legacy that will enhance the fabric of Coral Gables for generations to come.”

Following the groundbreaking ceremony, attendees were treated to an unforgettable experience at the aptly named “The Village Harvest Festival.” The event held from 10:00 a.m. to 2:00 p.m., brought together families and residents from the community to celebrate the Fall Season and the arrival of The Village at Coral Gables. The festival featured a farmer’s market with local artisan vendors and fun carnival activities including face painting, bounce houses and more.

The Village at Coral Gables will be set throughout 17 lots, bordered by Malaga Avenue, Santander Avenue, Segovia Street, and Hernando Street. The townhomes, lofts, villas, and flats will vary in style and size, from the sophisticated flats of two bedrooms with a study room and a balcony to the charming four-bedroom townhomes that range from 1,750 square feet to 3,100 square feet. Inspired by Merrick’s seven villages, The Village at Coral Gables will be built in a Mediterranean Revival-Style Architecture, designed by De La Guardia Victoria Architects & Urbanists, and integrate gardens, courtyards, and fountains inspired by the alcoves in the Plaza de España.

Residents will enjoy an array of recreational amenities, including a wellness clubhouse, indoor and outdoor terrace lounge, fitness wing, plunge pool, library, conference center, and high-speed Wi-Fi – redefining modern living in historic Coral Gables. The Village at Coral Gables is situated within walking distance of Downtown Coral Gables, golf courses, the Lowe’s Hotel, Biltmore Hotel, cultural attractions, and renowned dining venues, offering residents the best of South Florida living.

With its captivating design, luxurious amenities, and prime location, The Village at Coral Gables is poised to become the most sought-after living destination in South Florida, seamlessly blending the past with the present.

For more information, please visit www.MGDeveloperMiami.com.