OCEAN BANK PROVIDES $43.3 MILLION FOR CONSTRUCTION OF HIALEAH APARTMENTS

Ocean Bank Provides $43.3 Million For Construction of Hialeah Apartments

Ocean Bank announced it provided $43.3 million in construction financing to 1140 East Owner, LLC & Development Alliance, LLC 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.

“This project delivers affordable, sustainable, convenient, and high-quality housing to Hialeah. Our residents will not need to drive a car to work, whether they are commuting to Brickell or Downtown West Palm Beach,” said Javier Zayas-Bazan, a Partner at Development Alliance. “This results in lower cost of living and, along with our first-class amenities, an improved lifestyle for our residents.”

Set for completion in early 2028, Nexus Leah offers a state-of-the-art fitness center, an elevated pool deck with a lanai, co-working spaces, and an indoor children's play area.

“Hialeah’s East 25th Street Corridor is rapidly transforming into an urban village centered around this key transit hub, and Ocean Bank is pleased to provide the financing for this project,” said Pedro Max, Executive Vice President and Head of Business Banking and Branches at Ocean Bank.

Senior Vice President Jose Lopez and Vice Presidents Jesse James Herrera and David Van Sky arranged the loan for Ocean Bank.