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.
