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MG Developer Acquires Parcel in Coral Gables

| SFBW Staff

MG Developer, a real estate developer based in Miami, recently secured an $11 million loan by Knighthead Funding, LLC to acquire a 111,026 square foot parcel at 535 Santander Avenue in Coral Gables.

“We are proud to be MG Developer’s lending partner to purchase this unique parcel and are looking forward to seeing how this project further elevates Coral Gables,” Brian Sullivan says, Vice President of Knighthead Funding, LLC.

The funding will be used to build Gables Village, a 48-unit Seville-inspired residential community that will pay homage to George Merrick’s legacy and history. It will feature shaded tree-lined streets, plazas, parks and fountains.

“We are truly grateful to partner with Knighthead Funding for trusting in our vision and providing the loan to acquire the property where the neighborhood of Gables Village will be built and will further enhance the beautiful city we live in, while honoring George Merrick’s legacy,” Alirio Torrealba says, CEO of MG Developer. “We have no doubt we will make our partners, residents, and neighbors proud of this new enclave.”

Currently in the planning stages, the project is expected to be completed in 2024. The village will consist of duplexes, townhouses, and condominiums over 17 lots, featuring one-bedroom apartments to four-bedroom townhomes ranging from 1,750 square feet to 3,100 square feet

Previous acquisitions MG Developer spearheaded in Miami include the existing Biltmore Square, a luxury village development in Coral Gables.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.