Ocean Bank Provides $67M Construction Loan For Development Site In North Miami Beach

An investment property located at 17990 W Dixie Hwy in North Miami Beach has been acquired through a loan transaction. The property, classified as a Development Site, was the subject of a closed transaction mentioned on May 23, 2022. The loan, amounting to $67,000,000, was provided by Ocean Bank and falls under the category of Construction loans.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $67,000,000
• Lender: Ocean Bank
• Loan Type: Construction

Ocean Bank, a reputable financial institution, acted as the lender in this deal. They provided the required funding for the construction of the development site at 17990 W Dixie Hwy in North Miami Beach. The loan facilitated the acquisition and development of the property, allowing the project to proceed.