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Henry Torres Of The Astor Companies Secures $36 Million Construction Loan From Ocean Bank For Development Site In Miami

Property Image
FINANCED
$36,000,000

Florida

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Development Site
Financed 09/08/2025
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Property Image
FINANCED

Henry Torres Of The Astor Companies Secures $36 Million Construction Loan From Ocean Bank For Development Site In Miami

315 Northwest 27th Avenue

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Development Site
Financed 09/08/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The asset involved in this transaction is a development site located at 315 Northwest 27th Avenue, Miami. The site spans 1.17 acres and is part of a construction project. The loan amount secured for this project is $36,000,000, specifically intended for construction purposes.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $36,000,000
  • Lender: Ocean Bank
  • Landlord: Henry Torres - The Astor Companies
  • Market: Miami
  • Projected Delivery: 2027
  • Project: Havana Enclave
  • Units: 179-unit apartment project
  • Amenities: Pool, fitness center, pet spa, children’s playroom

This transaction involves key individuals such as Henry Torres, who represents The Astor Companies in this deal. Ocean Bank is providing the construction loan necessary to complete the Havana Enclave project, which will consist of an eight-story building offering market-rate units in Little Havana.

Players

TC
The Astor Companies
BROKERAGE
Ocean Bank
Ocean Bank
LENDER
Henry Torres
Henry Torres
7 deals$226.6M volume
LANDLORD

Details

FINANCED
IMAGE: Henry Torres DATE: 09/08/2025 ADDRESS: 315 Northwest 27th Avenue MARKET: Miami ASSET TYPE: Development Site ~ ACRES: 1.17 LENDER: Ocean Bank (@OceanBankUS) LANDLORD: Henry Torres - The Astor Companies LOAN AMOUNT: $36,000,000 LOAN TYPE: Construction NOTE: Astor Cos. landed a $36M construction loan from Ocean Bank to finish Havana Enclave, a 179-unit apartment project in Miami’s Little Havana. The eight-story building, set to deliver in 2027, will feature market-rate units with amenities including a pool, fitness center, pet spa, and children’s playroom.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$36,000,000.00

Monthly NOI$240,000.00
Monthly Debt Service$227,544.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00