$31 Million Loan Enables Investor to Purchase Four Hialeah Properties

Real estate investment companies led by investor Eric Bouskila used the funding from Ocean Bank to purchase two apartment complexes and two commercial centers in Hialeah. 

“Hialeah is a very stable market, and these properties enjoy strong leasing, both residential and commercial,” says Jesus Garcia (pictured), senior vice president at Ocean Bank, the largest independent, state-chartered commercial bank headquartered in Florida, administered the loans. 

Ocean Bank provided the $12.2 million loan to Las Terrazas LLC to purchase Bella Vista, a 2.93-acre site with 90 leased apartments at 1355 W. 44th Place. Another loan provided $3.6 million to Palma Soriano LLC to buy the 27-unit Clearview apartments located on a half-acre site at 1301 W. 26th Place. 

An additional $9 million enabled Santa Clara Plaza, LLC to acquire a two-story 3.74 acre retail center with over 50,000 square feet of shopping space at 1900 W. 60th St. The final loan of $6.15 million went to Ari Cienfuegos LLC for the purchase of a 2.16-acre retail shopping center at 600 E. 9th St. The center features 23 retail stores including a restaurant, bank branch, travel agency, insurance agency and a pet shop spanning 33,052 square feet.

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