Centtral Aventura LLC, managed by Jacobo Cababie Dichi, secured a $70 million construction loan from Miami-based Ocean Bank for a nine-story mixed-use development at 20955 Biscayne Boulevard in Aventura, just south of the Broward County line. The project is already under construction, with Jaxi Builders serving as general contractor.

The development will deliver 142,000 square feet of space on a 1.55-acre site, anchored by 63,400 square feet of office space alongside retail, restaurant, and fitness center components. Cababie Dichi acquired the site in 2020 for $13 million from a funeral service provider and submitted initial plans in 2021, later revising the design before breaking ground.

The loan arrives in a favorable environment for mixed-use retail and office product in north Miami-Dade. According to Colliers, the county's retail vacancy rate dropped to 2.9 percent in Q4, with approximately 765,500 square feet of retail space under construction countywide. Aventura's office submarket carries an 8.7 percent vacancy rate with average rents at $54.35 per square foot — a significant discount to Miami Beach at over $110 per square foot and Brickell at $89.

That pricing gap positions Aventura as an attractive alternative for tenants seeking Class A office space without the premium of Miami's core neighborhoods. For Ocean Bank, the loan extends a busy stretch of South Florida construction lending — the institution also provided a $43.3 million loan for a Hialeah apartment project during the same week.