Veteran real estate consultant joins MG Developer as it nears the $1 billion benchmark of real estate developments that range from $6 million to more than $270 million in scope, MG has evolved into one of South Florida’s most prolific luxury, in-fill developers
MG Developer, a Coral Gables-based niche luxury boutique developer, announced today that it has named, Catie Naranjo, Chief Development Officer (CDO), which comes on the heels ofMG Developer nearing the $1 billion benchmark in developments making the company, one of the region’s most prolific developers.
“We have been working with Catie for the last couple of years, and she has been truly instrumental in getting several of our projects in line from the initial investor and planning phase to breaking ground,” said, Alirio Torrealba, CEO & Founder of MG Developer. "Through her level of expertise, proficiency and guidance, we have remained at the forefront of development in South Florida in this niche market, and I am certain that she will successfully continue to bring our vision and plans to life with her new role at MG."
Catie’s primary role with MG Developer includes managing investor, lender, and stakeholder relations; as well as financial underwriting and review; coordination between various arms of the development team; establishing and tracking project budgets and performance while assessing market trends and opportunities. Catie’s expertise and skill set in real estate finance and underwriting are equally matched by her deep passion for idea generation and design.
With projects ranging in scope from a $6 million luxury single-family residence to the $274 million 472-unit, Merrick Parc development, MG has earned a reputation for amassing select properties in some of the County’s most sought-after locations, including: Coral Gables, Hialeah, and the City of Miami.
Last year, Coral Gables’ most active residential developer, held its first groundbreaking in Hialeah for the construction of a 560-unit, 10-story apartment rental building in the “City of Progress”, named Metro Parc. This groundbreaking marked the company’s launch of its new multifamily residential division of rental buildings.
Less than a year later, MG Developer launched three other developments. The first is the developer’s second multifamily apartment community, Merrick Parc, which will sit just outside of Coral Gables’ city limits. A second is astructure that will rise in Coral Gables’ Northside entrance with 72 condominium units and retail on the ground floor, named Alhambra Parc. MG’s third project is The Village at Coral Gables enclave, comprised of 48 luxury residences spread amongst an expansive 17-lot area bordered by Malaga Avenue, Santander Avenue, Segovia Street and Hernando Street. It will include townhomes, villas, lofts, flats that range in size, from 1,750 sq. ft. to 3,100 sq. ft. Inspired by George Merrick’s seven villages, The Village at Coral Gables will be built in a Mediterranean Revival-Style Architecture, designed by De La Guardia Victoria Architects & Urbanists. Construction for this project is planned to commence in April of 2023.
The company’s most recently completed project, Althea Row, nearly sold-out in less than 90 days. Soon, MG will complete Biltmore Row, 10 exclusive townhomes that will wrap-up the developer’s master planned community known as Biltmore Square. Biltmore Square is also home to the 32-condominum residences, Biltmore Parc, and the row of 9 award-winning luxury townhomes called Beatrice Row.
“Reaching these milestones is a testament to the amazing team we have built and continue to grow at MG Developer,” concluded Alirio Torrealba.
Prior to being named MG Developer’s CDO, Catie spent the previous 12 years managing projects ranging in size from small private ventures to large-scale, high-profile endeavors. Catie has also personally invested in and developed her own successful real estate ventures, giving her a principal’s perspective on risk management, creative problem solving, and long-term visioning.
Catie earned an MRED degree from the University of Miami, where she received the Outstanding Student in Real Estate Development & Urbanism Award. Prior to that, Catie earned a Bachelor of Science degree in Marketing from Clemson University.
MG’s success has attracted the attention of numerous venture capital partners. While most of those prefer confidentiality, the team has worked with entities such as Collier’s to secure development capital, as well as VYV, Leste Group, and Baron Property Group in New York.
Led by Venezuelan-native Alirio Torrealba, MG Developer is a residential property development company headquartered in Coral Gables, Florida, that provides a comprehensive array of real estate-oriented services, from concept creation and property site selection to project advancement. He currently has several projects completed and in planning throughout Miami and is Coral Gables’ most active developer.
For more information, please visit www.MGDeveloperMiami.com.
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