The property asset involved is a development site located at 17501 Southwest 99th Road in the Miami market. The site has a building square footage of 128,466 and covers an area of 1.9 acres. The transaction encompasses a construction loan amounting to $14,950,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $14,950,000
• Market: Miami
• Lender: Comerica Bank
• Landlord: Mitchell Feldman & Jordan Feldman - Feldman Cos.; Michael Levy - Crow Holdings
• Loan Type: Construction

The parties involved in this transaction include Feldman Cos. and Crow Holdings, who have commenced a new build for a self-storage facility near Palmetto Bay. The project is one of two new developments in the South Miami-Dade area, responding to the increasing demand for self-storage solutions due to rising apartment development and tight housing conditions.