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South Florida

Foreclosure for Doral project

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Ocean Bank plans to foreclose on a $10.9 million loan it made to build the 16-acre, mixed-use Pebblewalk Village development in Doral. The site, located at the northwest corner of Florida’s Turnpike and Northwest 41st Street in western Miami-Dade County, was approved for 363 residential units and 125,000 square feet of retail and office space. Adrian Development at Pebble Walk Partnership, of Coral Gables, bought the site for $16.8 million in 2005.