FINANCED
H&M Development & Blue Vista Capital Secure $18M Construction Loan In Hialeah
2401 Okeechobee Road
Self Storage
Financed 17 days ago
Summary
Loan
FLORIDA
Self Storage
The property at 2401 West Okeechobee Road in Hialeah is set to undergo development as a self-storage facility on a two-acre site. The $18 million construction loan from Old National Bank will fund the project, which includes plans for a 113,000-square-foot, three-story facility with 1,025 climate-controlled storage units. Hialeah Storage Associates, led by H&M Development and Blue Vista Capital Management, will oversee the development, with architect Kenneth Carlson designing the facility.
Summary of transation details:
- Property Type: Self Storage
- Transaction Amount: $18,000,000
- Market: Hialeah
- Acres: 2
- Lender: Old National Bank
- Landlord: Harry Dornbusch - H&M Development; Robert G. Byron - Blue Vista Capital Management
H&M Development and Blue Vista Capital Management have a broader self-storage development plan in South Florida, supported by a $100 million fund. This project in Hialeah, along with others like it, is part of their strategic expansion in the region.
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: Harry Dornbusch & Robert G. Byron
DATE: 04/30/2024
ADDRESS: 2401 West Okeechobee Road
MARKET: Hialeah
ASSET TYPE: Self Storage ~ ACRES: 2
LENDER: Old National Bank
LANDLORD: Harry Dornbusch - H&M Development; Robert G. Byron - Blue Vista Capital Management
LOAN AMOUNT: $18,000,000
LOAN TYPE: Construction Loan
NOTE: Hialeah Storage Associates, backed by H&M Development and Blue Vista Capital Management, secured an $18 million construction loan from Old National Bank to build a self-storage facility on a two-acre site at 2401 W. Okeechobee Road. The project, approved for a 113,000-square-foot, three-story facility with 1,025 climate-controlled storage units, will be designed by architect Kenneth Carlson. H&M Development and Blue Vista have a broader self-storage development plan, with proceeds from a $100 million fund supporting projects like this in South Florida, including Hialeah Gardens.View on map
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Address2401 Okeechobee Road
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