Updated Sep 21, 2026
Daniel Abreu Of Proximity Warehouse Secures $20 Million Construction Loan From Ocean Bank For Development Site
13750 Northwest 12th Street
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 17, 2026
About this deal
AI
The asset involved is a development site located at 13750 Northwest 12th Street in Miami, FL, encompassing 1.85 acres. The project will feature 130,664 square feet of self-storage space and 10,006 square feet designated for retail use, along with 72 parking spaces. A construction loan of $20,000,000 was secured to facilitate this development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Lender: Ocean Bank
- Landlord: Daniel Abreu - Proximity Warehouse
- Date: 09/17/2026
Miami-based Proximity Warehouses, under the leadership of Daniel Abreu, is advancing on the six-story self-storage and retail project after obtaining the necessary financing. This project marks a significant development effort within the western Miami-Dade area.
On the Map
$20,000,000
Development Site
View full map
Players
Saint Maries Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse Saint Maries development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93