Alhambra Parc: A New Jewel in Coral Gables’ Real Estate Crown

Transforming Coral Gables

In the vibrant heart of Coral Gables, a new architectural marvel is set to redefine the landscape of this historic Miami neighborhood. Alhambra Parc, a landmark mixed-use project, has successfully secured a substantial $100 million construction loan, signalling robust investor confidence and a commitment to transformative urban development. This endeavor, a collaboration between MG Developer and Vertical Developments, is set to enhance the community through a blend of luxury residential, commercial, and retail spaces.

A Strategic Financing Partnership

The financing for Alhambra Parc was arranged through Benmark Capital, a respected real estate private equity firm operating out of Miami and New Jersey. The financing transaction was spearheaded by Scott Wadler and Bobby Dockerty from Berkadia, with crucial input from senior executives at the firm, showcasing a powerful synergy among leading financial institutions and developers.

Community-Centric Development

“This financing reflects not only the strength of Alhambra Parc but also the unwavering trust that our partners and financial institutions place in our vision,” stated Alirio Torrealba, CEO of MG Developer. His remarks highlight the developers’ dedication to creating projects that serve the community’s long-term interests. Alhambra Parc aims to be more than just a residential complex; it is envisioned as a hub that fosters community interaction and economic growth.

Luxury Living Meets Modern Convenience

Strategically located at 33 Alhambra Circle, Alhambra Parc will feature a harmonious mix of 74 exquisite residences, ranging from one to three-bedroom units, complemented by 13,000 square feet of premium office space and nearly 18,000 square feet of curated retail. The design, executed by Bellin & Pratt Architects and enhanced by the interiors of Carlos Guevara, emphasizes high-end finishes and walkable urban living—elements that resonate with Miami’s affluent lifestyle.

Commitment to Quality and Excellence

Fernando de Nunez y Lugones, CEO of Vertical Developments, expressed his enthusiasm about the project, stating, “This achievement marks a major milestone for Alhambra Parc and reflects our confidence in Coral Gables as one of South Florida’s most dynamic and resilient markets.” The collaboration between MG Developer and Vertical Developments underscores a shared vision for excellence, with both firms bringing their unique expertise to the table to create a development that is poised to deliver lasting value.

A Vision for the Future

Alhambra Parc is not just another project in the pipeline; it signifies a new chapter for Coral Gables, a city where historical charm meets contemporary aspirations. With MG Developer’s decade-long commitment to the area, this project reinforces their role as a leading developer in the market, further solidifying Coral Gables as a prime destination for both residents and investors. As the skyline continues to evolve, developments like Alhambra Parc will play a critical role in shaping the future of urban living in South Florida.

Editorial note: This article was created by A Bit Lavish Miami’s Magazine as an original editorial reinterpretation based on publicly available reporting. Original source: profilemiamire.com. Read the original article here: https://profilemiamire.com/miamirealestate/2026/6/8/mg-developer-and-vertical-developments-secure-100-million-construction-loan-for-alhambra-parc-in-coral-gables.
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