Metro Parc, a 559-unit apartment tower in Hialeah, Florida, is roughly half-leased. That’s not a red flag in itself, the building only recently finished construction, but it’s exactly the kind of asset that was supposed to have trouble finding capital in 2026’s tighter lending environment. Instead, it just landed $226.5 million.
Baron Property Group refinanced and recapitalized the property this week, replacing a $148 million construction loan that Post Road Group provided back in September 2022. Madison Realty Capital, the New York-based private credit firm, supplied $125 million in senior financing. Yellowstone Real Estate provided $101.5 million as a preferred equity investment. Ben Suky of Bensco arranged the deal; HKS Real Estate Advisors and DIA Capital Group advised Baron Property Group.
Read as a single number, $226.5 million, this is simply evidence that money is moving. Read as two numbers, the deal says something more specific about how that money is priced…