Etude Storage Partners Acquires Self Storage Facility In Pembroke Pines For $17.86M
8321 Pines Boulevard
$17,860,000
$160/SF
Building Size
111,023 SF
Asset Type
Self Storage
Closing
Nov 25, 2025
AI
The self-storage facility located at 8321 Pines Boulevard in Pembroke Pines comprises 111,023 square feet and spans 4.75 acres. It was sold for $17,860,000, reflecting a price per square foot of $161.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $17,860,000
- Buyer: Etude Storage Partners
- Seller: Christopher S. Moore - CSM Capital Corporation; Ryan Hanks - Go Store It Self Storage
- Lender: Goldman Sachs
- Sale Date: 11/25/2025
- Previous Sale Price: $12,980,000
- Increase in Sale Price: 38%
Goldman Sachs provided a mortgage of $29,250,000 that covered this transaction along with another property, indicating substantial demand for self-storage in South Florida, characterized by low vacancy rates and escalating rents.
Players
Pembroke Pines Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93