Carlyle JV sells Miami-Dade self-storage portfolio for $100M

Self-storage operator William Warren Group is the buyer

Miami /
Sep.September 19, 2018 02:30 PM

U.S. Storage Centers and Carlyle Group’s Glenn A. Youngkin

An entity tied to William Warren Group just paid $100 million for three self-storage buildings spread throughout Miami-Dade County.

Property records show CRP/Westport Self Storage Dixie, a joint venture between the Carlyle Group and Westport Properties that operates as US Storage Centers, sold the buildings.

The self-storage facilities are located in Kendall, North Miami and North Miami Beach. Records show each were developed by the joint venture and completed within the past two years.

The facility at 13301 Southwest 87th Avenue fetched the highest price at $39.8 million. Records show the partners bought the 40,000-square-foot lot, which lies near The Falls shopping center, for $4 million in 2016.

A second facility with four stories, at 1396 Northeast 125th Street, sold for $31.7 million. The joint venture paid $3.6 million for the property in 2016. And the last facility, at 1555 West Dixie Highway, traded hands for $28.7 million. The developer paid $1.4 million 1.3-acre lot in 2015.

Carlyle is an investment firm based in Washington, D.C., with more than $200 billion worth of assets under its management, according to the firm’s website. Last month it sold the Fort Lauderdale Marriott Pompano Beach Resort & Spa for $45 million with partner Urgo Hotels.

William Warren Group is a self-storage development, acquisition, property, and asset management company based in Santa Monica, California.


Related Articles

arrow_forward_ios
Renders of the new development on 1155 Northeast 126th Street (Kivvit)

North Miami CRA approves financing for new workforce housing development

North Miami CRA approves financing for new workforce housing development
Bent Philipson and 1235 Northeast 135th Street (Linked, Google Maps)Bent Philipson and 1235 Northeast 135th Street (Linked, Google Maps)

Healthcare magnate spends $24M on sixth South Florida nursing home

Healthcare magnate spends $24M on sixth South Florida nursing home
1930 Northwest 23rd Street with (from left) Shane Neman, Richard Kilstock and David Aaron (Getty, Arkadia, Neman Ventures)

Arkadia buys cold storage warehouse in Allapattah for $5M

Arkadia buys cold storage warehouse in Allapattah for $5M
Dan Azel with 8900 Southwest 107th Avenue and 10700 Southwest 88th Street (Credit: Google Maps)

Construction honcho pays $17M for Kendall office buildings

Construction honcho pays $17M for Kendall office buildings
A rendering of 14752 Northeast Sixth Avenue

Global One plans housing project near North Miami

Global One plans housing project near North Miami
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
A rendering of the Intracoastal Mall and Gil Dezer

Dezer’s plans to remake Intracoastal Mall face opposition

Dezer’s plans to remake Intracoastal Mall face opposition
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...