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Knickpoint Secures $18M Financing for Miami Self-Storage – Connect CRE

by | Jan 10, 2024 | 0 comments

Knickpoint Ventures is developing 36th Street Storage, a self-storage project consisting of 1,160 storage units or 98,488 rentable square feet located in Miami.

Knickpoint acquired the 1-acre site for $4.6 million in 2022 and concluded the planning and entitlement efforts in 2023. The land was a used car lot before Knickpoint purchased it.

Knickpoint engaged the Aztec Group to source construction financing for the project. The Aztec Group arranged $18.3 million in construction financing for the deal. The financing opportunity of 36th Street Storage was awarded to Bank Hapoalim. 

36th Street Storage is slated to be a state-of-the-art, fully climate-controlled facility featuring on-site management, 24/7 surveillance, keypad entry, and gated loading and parking areas. 

Knickpoint Ventures’ has 15 self-storage properties in New York and Miami. It also invests in apartments, retail and office.

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