Ocean Bank will reopen its Orlando Branch on Friday, October 11th.
Our thoughts are with those affected by Hurricane Milton.
Online banking and mobile banking continue to be available. To find the nearest ATM free of charge, click here.

In observance of Martin Luther King Jr. Day, we will be closed Monday, January 20th. We will resume regular business hours on Tuesday, January 21st.

Ocean Bank - Financial Results as of September 30, 2024. Continued Financial Strength Learn more

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OCEAN BANK LENDS $62.2 MILLION FOR CONSTRUCTION OF ROYAL PALM RESIDENCES

October 4, 2023
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Ocean Bank Lends $62.2 Million for Construction of Royal Palm Residences

Ocean Bank announced it has loaned $62.2 million for the construction of Royal Palm Residences, an exclusive three-building condominium development with 48 luxury residences.

The loan to GROUP P6-C, LLC, headed by Jose J. Padua and Ignazio Diaz, replaces an existing loan held by a private lender.

“We are excited to work with Ocean Bank as we work to finish and deliver Royal Palm Residences,” Padua said.  “Ocean Bank was able to provide us with very competitive terms, which is now more vital than ever. This refinancing speaks to the strength of the project. We look forward to delivering our first units in the very near future.”

Completion of construction of Royal Palm Residences is scheduled for March 2024, said Eddie Diaz, Executive Vice President and Head of Corporate Lending for Ocean Bank.  Forty-four of the 48 units have been pre-sold.  The development is located at 475 E. Royal Palm Road in Boca Raton.

The development consists of 48 condominiums, ranging from a 2-bedroom, 3.5-bath unit of 2,508 SF to a 4-bedroom, 5.5-bath condominium of 3,527 SF.  Units will have balconies ranging from 165 SF to 1,451 SF.

The buildings will have an underground parking garage and reception area on the ground floor, with residences on floors two through nine. 

Senior Vice President T. George Harduvel and Vice President Lourdes Quinones arranged the loan for Ocean Bank.  Holland & Knight partners, Brett Holland and Josias Dewey, represented Ocean Bank in the transaction.

 

  • OCEAN BANK LENDS $16.5 MILLION FOR CONSTRUCTION OF "LIVE LOCAL" APARTMENT COMPLEX
  • OCEAN BANK LENDS $80 MILLION TO FLB HOTEL, LLC
  • OCEAN BANK REPORTS CONTINUED GROWTH
  • OCEAN BANK LENDS $6.3 MILLION FOR EXPANSION OF HIGH-PROFILE JEWELRY STORE
  • FROM RECYCLED OCEAN PLASTIC TO DEBIT CARDS
  • VANESSA LUGO PROMOTED TO CFO
  • OCEAN BANK PROVIDES $4.9 MILLION FOR AVIATION COMPANY
  • OCEAN BANK LENDS $4.5 MILLION FOR SHOPPING PLAZA RENOVATION
  • OCEAN BANK PROVIDES $17.5 MILLION FOR REFINANCE OF ALOFT HOTEL
  • OCEAN BANK PROVIDES $25 MILLION FOR AUTO DEALERSHIPS FLOOR PLANS
  • INTERNATIONALLY RENOWNED ARTIST ROMERO BRITTO ACQUIRES BUILDING IN MIAMI FOR ALMOST $12 MILLION
  • OCEAN BANK PROVIDES $40 MILLION TO REFINANCE SHOPPING MALL
  • ORLANDO BRANCH WILL RETURN TO NORMAL HOURS
  • OCEAN BANK LENDS $9.2 MILLION OF CONSTRUCTION OF ULTRA-LUXURY TOWNHOMES
  • CRISTO REY MIAMI HIGH SCHOOL AND OCEAN BANK PARTNER FOR STUDENT SUCESS
  • OCEAN BANK REPORTS CONTINUED GROWTH
  • OCEAN BANK REPORTS INCREASES IN INCOME, CAPITAL AND ASSETS
  • OCEAN BANK TO OPEN FIRST PALM BEACH COUNTY BRANCH
  • OCEAN BANK PROVIDES $27 MILLION FOR SHOPPING CENTER PURCHASE
  • OCEAN BANK PROVIDES $5,000,000 FACTORING FACILITY TO AN INTERNATIONAL EXPORTER
  • OCEAN BANK PROVIDES $21.5 MILLION FOR HOLLYWOOD HOTEL