Hialeah Apartment Developer Inks $43.3M Construction Loan
Ocean Bank provided $43.3 million in construction financing to Development Alliance for Nexus Leah, a transit-oriented 8-story development with 189 apartments in Hialeah.
The 1.14-acre site is located at 1140 East 25th Street, directly adjacent to the southeast corner of the Metrorail to TriRail Transfer Station.
Set for completion in early 2028, Nexus Leah offers a fitness center, an elevated pool deck with a lanai, co-working spaces, and an indoor children’s play area.
Jose Lopez, Jesse James Herrera , and David Van Sky arranged the loan for Ocean Bank.
Development Alliance says it’s a vertically integrated real estate investment company focused on developing Class A attainable housing in strategically situated areas near mass transit corridors and hubs.
Ocean Bank touts on its website that it’s the largest independent, state-chartered commercial bank headquartered in Florida.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout