arts
MG, Vertical score $100M construction loan for Coral Gables mixed-use
By Eman Elshahawy at The Real Deal
· June 5, 2026
· 1 min read
MG Developer and Vertical Developments landed a $100 million construction loan for Alhambra Parc, a mixed-use luxury condo project in Coral Gables. San Francisco-based Benmark Capital provided the financing for the eight-story development at 33 Alhambra Circle, according to a news release. Berkadia’
Key takeaway San Francisco-based Benmark Capital provided the financing for the eight-story development at 33 Alhambra Circle, according to a news release.
Why this matters in The Miami
The $100 million construction loan for Alhambra Parc in Coral Gables signals a significant investment in Miami-Dade County's luxury condo market. As a major hub for Latin American and Caribbean communities, Miami's real estate landscape is shaped by the demand for high-end developments that cater to diverse tastes and preferences. The involvement of local developers like MG Developer and Vertical Developments, led by Alirio Torrealba and Fernando de Nuñez y Lugones, respectively, suggests a deep understanding of the local market and its nuances. The project's location in Coral Gables, a city known for its upscale neighborhoods and vibrant cultural scene, will likely appeal to buyers seeking a unique blend of luxury and community. As the project moves forward, it will be worth watching how Alhambra Parc contributes to the ongoing evolution of Coral Gables' urban landscape and whether it sets a new standard for mixed-use developments in the area.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
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Category: arts ·
Published: June 5, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? MG Developer and Vertical Developments landed a $100 million construction loan for Alhambra Parc, a mixed-use luxury condo project in Coral Gables. San Francisco-based Benmark Capital provided the financing for the eight-story development at 33 Alhambra Circle, according to a news release. Berkadia’
When was this published? This article was first published on June 5, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Eman Elshahawy at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
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