Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-Locally based Ocean Bank says it has provided a loan of nearly $11.7 million to Elias and Jorge Kasabdji for construction of a 144-room Best Western hotel at 4100 W. Flagler St. The brothers are principals of Flagler 4100 Property LLC.

The seven-story, enclosed-corridor hotel will include parking for up to 72 vehicles on the site, which measures just under an acre. Alfredo Himiob is the project’s manager and Delant Construction is the general contractor for the hotel, which is now under construction and is expected to open in mid-2010.

The Kasabdji brothers have more than 15 years experience in project construction, engineering and investment real estate. They bought the parcel near the corner of Flagler Street and Le Jeune Road (SW 42nd Avenue) for $2.2 million in 2004, in a deal also financed by Ocean Bank.

Armando Martinez and Iliana Ivis Rodriguez were the Ocean Bank loan officers handling the transaction. Lawyer Roberto F. Fleitas of Fleitas & Bujan in Miami represented Flagler 4100, and Brian L. Fink of Catlin Saxon Fink & Kolski LLP in Coral Gables represented Ocean Bank in the transaction.

Ocean Bank, chartered in 1982, has more than $4.6 billion in assets and is the largest independent, state-chartered commercial bank based in Florida. It has 21 branches in Miami-Dade and Broward Counties.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.