A partnership led by SROA Capital LLC, an equity investor focused on the self-storage industry and operator of the Storage Rentals of America brand, has broken ground on an eight-story facility in Miami’s Overtown neighborhood. The property at 1020-1040 Sunnybrook Road will comprise 112,500 square feet in 970 climate-controlled storage units. It’ll also include a parking garage. Developed in partnership with The Feldman Cos., the project is expected to be complete sometime next year, according to the source.

Operating as SROA Sunnybrook LLC, the partnership paid $1.7 million for the 18,000-square-foot lot last year. It secured a $9.5 million construction loan from Mutual of Omaha Bank.

The Feldman Cos. recently completed construction on a 147,027-square-foot facility in North Miami in partnership with Westport Properties Inc., which operates 86 self-storage facilities under the US Storage Centers brand. A privately owned real estate development, construction-management and investment company, it has completed more than 1 million square feet of ground-up development and has 600,000 square feet in various stages of entitlement and construction.

Based in West Palm Beach, Fla., SROA Capital is a real estate investment company focused on the acquisition and operation of self-storage properties nationwide as well as direct-equity investments with developers. The company operates more than 3 million rentable square feet of storage space at 57 properties containing 22,000 units. It recently changed its name from Elite Stor Capital Partners LLC to better align with the Storage Rentals of America brand name.

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