Storage Units Capital Locks in $75M Construction Loan for South & Central FL Storage Developments

Storage Units Capital, a firm specializing in self-storage real estate investments, has announced the acquisition of a $75 million construction loan from Beal Bank and Crow Holdings. This financing will support the development of high-quality self-storage properties in Orlando and Tampa's submarkets.

Strategic Development

Sean Casterline, Channel Marketing Director at Storage Units Capital, expressed satisfaction with securing favorable loan terms despite the current challenging financial environment. He highlighted that the planned self-storage facilities will be located along major roads and in high-density areas experiencing economic growth. The design of these facilities aims to meet strong tenant demand.

Project Details

The loan will fund the construction of five state-of-the-art self-storage facilities across Fort Myers, Fort Pierce, Vero Beach, Sebring, and Cocoa. The developments will include around 4,000 units with modern amenities such as climate control, interior drive-through unloading areas, covered boat and RV parking, drive-up storage, and some retail or office space.

Equity and Investment

Equity for these projects comes from Storage Units Income Fund II, a company affiliate raising funds from accredited investors. This initiative aligns with their strategy to invest in new Class A self-storage facilities in high-demand markets throughout the southern U.S. The fund's securities are offered through Arete Wealth Management LLC and adhere to Rule 506(c) of Regulation D.