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Ocean Bank recently announced it provided $21.9 million to 255 Brickell Investments LLC for construction of 50 units as Phase II of the Smart Condo mixed-use condominium/hotel complex on SW Ninth Street in Miami.
This phase of the development consists of a mixture of 50 studio, one- and two-bedroom units ranging in size from 390 square feet to 1,066 square feet atop an additional 50 condo/hotel units in a 22-story building at 255 SE Ninth St.
The condominiums are 100 percent pre-sold, while 47 of the condo/hotel units have been sold. Construction is slated for completion in March 2026.
“This project is in a very attractive and booming part of the Brickell area and adjacent to Metrorail. We are happy to add to the project we’ve financed for developer Santiago Vanegas,” said Eddie Diaz, executive vice president and head of Corporate Lending.
Senior vice president Lisette Podetti arranged the loan for Ocean Bank.
Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida, with more than $7 billion in assets. Chartered in 1982, Ocean Bank operates its network of 24 branches throughout Miami-Dade, Broward, and Orange counties.
For more information, visit www.oceanbank.com.
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