Ocean bank files for townhome foreclosure

Ocean Bank has filed for foreclosure on Ives Dairy
Townhomes, a townhome project with over 120 units at 20686 Ives Dairy Road in Miami.
Miami-based developer Ives Dairy Point received a $21.6 million mortgage from Ocean Bank
for the project in 2006. About 25 of the project’s townhouses have been finished, and county records showed no closings.