search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Commercial
South Florida

CubeSmart self-storage location coming to Little Havana

An Atlanta-based firm paid $2.3 million for the development site and got a $20.17 million construction loan

CubeSmart self-storage building at 19395 Southwest 106th Avenue in Miami
CubeSmart self-storage building at 19395 Southwest 106th Avenue in Miami

Atlanta-based Mequity Cos. acquired property in the Little Havana area of Miami for construction of a self-storage building.

An affiliate of Mequity bought the development site for $2.3 million from Kay-B LLC, managed by Mario Bramnick.

The South Florida Business Journal also reported that Mequity obtained a $20.17 million loan to finance construction of the eight-story self-storage building, which will have 1,152 units. The lender is Jernigan Capital Operating Co.

Sign Up for the undefined Newsletter

The 29,750-square-foot development site at 120 and 132 Northwest 27 Avenue is occupied by a 10,240-square-foot retail building that will be demolished.

CubeSmart will manage the 140,273-square-foot self-storage building that Mequity Cos. is developing in Little Havana.

According to its website, CubeSmart now has eight locations in the Miami area. [South Florida Business Journal] — Mike Seemuth

Tags
Commercial Real EstateLittle HavanaSelf Storage