Baron Property Group has completed a $226.5 million refinancing and recapitalization of Metro Parc, a recently completed 559-unit mixed-use development in Hialeah, Florida. The transaction replaces the property’s construction financing as leasing continues, with the Class A community nearly 50 percent occupied.
Key takeaways
- Madison Realty Capital provided $125 million in senior financing.
- Yellowstone Real Estate invested $101.5 million in preferred equity.
- The financing replaces a $148 million construction loan obtained in 2022.
- Metro Parc is the first phase of Baron’s 2.3 million-square-foot Hialeah master plan.
The refinancing gives Baron Property Group additional capital flexibility while Metro Parc advances through lease-up. Bensco founder and principal Ben Suky arranged the financing, while HKS Real Estate Advisors and DIA Capital Group advised Baron on the transaction.
Metro Parc combines housing, retail and transit access
Designed by Modis Architects, Metro Parc consists of two 10-story towers offering studio, one- and two-bedroom apartments ranging from approximately 500 to 800 square feet. Residences include open layouts, large windows, 11-foot ceilings, stainless steel appliances and in-unit laundry.
The project’s amenity package includes a pool with private cabanas, an outdoor courtyard with grills, a fitness center, coworking space, 24-hour concierge service, bike facilities and parking. More than 15,000 square feet of retail space is planned, including a forthcoming location of Mr. Baker, a Cuban bakery with multiple locations across the Miami area.
Metro Parc’s location near Hialeah’s Metrorail and Tri-Rail transfer stations is a central part of its positioning. Transit connections provide access to Miami’s Health District, downtown and Brickell, while Hialeah Hospital, Amelia Earhart Park and Miami International Airport are also nearby.
Second phase is already under construction
Baron has begun work on Metro Parc North, the 661-unit second phase of the development. Post Road Group provided $205 million in construction financing in March 2025, and delivery is expected in late 2027.
Metro Parc North is planned to include studios and one-, two- and three-bedroom apartments, roughly 2,000 square feet of ground-floor retail and amenities such as a pool, clubroom, coworking areas, bike storage, a pet grooming station and parking. Modis Architects is also designing the second phase.
Baron expands its South Florida and New York pipeline
Founded in 2021, Baron Property Group develops and invests in residential and commercial real estate, with a focus on South Florida and New York City. Its pipeline totals nearly 4 million square feet and more than 3,600 residential units, with a stated value exceeding $2 billion.
In New York, the company is partnering with LargaVista on a 46-story mixed-use project at 30-25 Queens Blvd. in Long Island City. The development is planned to include 561 apartments, 169 of them affordable, and approximately 21,000 square feet of retail space. Completion is targeted for 2028.
The partners previously developed The Park Overture, a 92-unit luxury apartment property in Manhattan’s Washington Heights neighborhood, near Fort Tryon Park.