The development and the experimental validation of a novel dynamic model of an islanded three-phase Inverter-based Microgrid (IMG) is presented in this paper. The proposed model reproduces the relevant system dynamics without excessive complexity and enough accuracy. The dynamics of the IMG are captured with a compact and scalable dynamic model, considering inverter based distributed generators with d-current droop primary and proportional resonant inner controllers. The complete development of the model, the practical assumptions, and the accurate proportional power sharing of the primary control technique are shown. The accuracy performance was verified in experiments performed at the Aalborg Intelligent Microgrids Laboratory for an islanded IMG case.