MIAMI-Mercantil Commercebank and Miami-based Ocean Bank have recently sold foreclosed properties in southern Miami-Dade County at a loss. MCNA Properties II, an affiliate of Mercantil Commercebank, sold 116 units in the 122-unit Centre at Cutler Bay at 19200 S.W. 106th Ave. to Miami-based Cutler Center Holdings in May for $7 million.
In another deal, Palm REPH, an affiliate of Ocean Bank, sold 83.9 acres of land near Florida City to Coral Gables-based Empower Holdings for $2.8 million. For the full story, go to South Florida Business Journal .
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