$300 million project in Miami-Dade has new development partner

By Brian Bandell for South Florida Business Journal

STORY HIGHLIGHTS

• Township Capital joins Baron Property Group’s $300 million Metro Parc North development.
• Metro Parc North will feature 661 apartments near Hialeah’s transit station.
• Township Capital is working on a $204 million construction loan for the project.

Baron Property Group (BPG) has found a new partner for its $300 million Metro Parc North development in Hialeah as West Palm Beach-based Township Capital has bought in as an equity partner in the project.

Financial terms of the deal weren’t disclosed. New York-based BPG bought out its previous partner, Coral Gables-based MG Developer, in August 2024. Metro Parc North is slated for 661 apartments in eight stories on 3.84 acres at 955 East 26th Street, a block west of the Hialeah Tri-Rail/Metrorail Transfer Station.

The developer previously bought up 20 single-family homes to assemble the development site.

The developer are also working to close a $204 million construction loan from Post Road Construction. HKS Capital Partners is working with them on the pending loan. Metro Parc North is slated to break ground on Feb. 7.

“We are thrilled to collaborate on Metro Parc North, a project that reflects our vision of investing in communities and delivering value through innovation and quality,” said Matthew Gorelik, founder of Township Capital. “Hialeah is a thriving and diverse market, and we are proud to play a role in shaping its future.”

MG Developer is still building Metro Parc South, Metro Parc West, Metro Station and Metro Station North in Hialeah.

Township Capital has invested in multifamily, hotel and industrial projects across the country.

External Source: Township Capital joins Baron Property Group in Metro Parc North apartments in Hialeah – South Florida Business Journal