Train stop apartment project scores $43M construction loan in busy Hialeah

A development firm scored a $43.3 million construction loan for an apartment project near the Metrorail and Tri-Rail transfer station in Hialeah.  The deal comes amid a multifamily construction boom in Hialeah and near transit stops across South Florida. At the same time, an apartment supply overhang in the tri-county region has slowed leaseups.  Development Alliance plans the eight-story, 189-unit Nexus Leah on the 1.1-acre site at 1140 East 25th Street, according to a news release from Ocean Bank, which provided the financing. The project will include affordable units. Completion is expected in early 2028.  Jose Lopez and Jesse James […]This article originally appeared on The Real Deal. Click here to read the full story.