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

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.