J. Brett Houston Of Houston Partners Secures $14.5M Loan From Banco Do Brasil Americas In Homestead

The property asset involved in this transaction is a development site located at 1850 Northeast 8th Street in the Homestead market. The site spans 3.22 acres and has a building square footage (BSF) of 134,500. A loan amounting to $14,500,000 was secured for the construction of a facility that will feature a four-story, 134,500-sf self-storage facility housing 1,050 units. Additionally, the project will include a 7,000-sf Discount Tire center under a fifteen-year lease. Notably, this project is exempt from the city’s new ban on self-storage development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $14,500,000
• Address: 1850 Northeast 8th Street
• Market: Homestead
• Asset Size: 3.22 Acres
• Building Square Footage: 134,500
• Lender: Banco do Brasil Americas
• Landlord: J. Brett Houston - Houston Partners
• Loan Type: Construction

This transaction involved key individuals such as J. Brett Houston representing Houston Partners, who is overseeing the development initiative. The construction financing provided by Banco do Brasil Americas plays a crucial role in bringing this project to fruition. The inclusion of the Discount Tire center signifies the commercial aspect of the development, complementing the self-storage facility.