Ocean Bank has recently announced a $40 million loan to Dadeland Greenery LP for the purpose of refinancing the Greenery Mall and Dadeland Square shopping center.
Dadeland Greenery LP is led by Joseph A. Sanz, the executive chairman and founder of Orion Investment and Management Ltd. The limited partnership acquired the shopping center in 2023 for $52.2 million, supported by a $42 million commercial mortgage-backed securities loan.
Eddie Diaz, executive vice president and head of corporate lending at Ocean Bank, remarked, “Joseph Sanz and his family have been valued customers of Ocean Bank for many years. We are happy to provide a permanent loan for this iconic property and to expand our relationship with Mr. Sanz.”
The Dadeland Square shopping center spans 8.7 acres at 7700 N. Kendall Drive, adjacent to the Palmetto Expressway. It includes 212,991 square feet of mixed-use retail and office space, featuring 84,916 square feet of office space within an eight-story building.
Among its long-term tenants are prominent brands like TJ Maxx/Home Goods, Joann Fabrics, Guitar Center, Don Pan Bakery, Starbucks, and various law firms.
The loan was arranged by Ocean Bank’s senior vice presidents, Juan A. Mendiola and Federico Tunnermann.
For further information about Ocean Bank, visit their website.