Hialeah Storage Builders LLC has purchased a 2-acre parcel in Hialeah Gardens, Fla., for $2.3 million on which it plans to build a self-storage facility. The property is north of Northwest 107th Street, west of Northwest 89th Avenue, near several industrial parks, according to the source. The company received a $12.4 million construction loan from Jernigan Capital, a merchant bank and advisory firm serving the self-storage industry.

The sellers were real estate investors Raudel and Renaldo Mesa, who purchased the site in 1998 for $163,500.

Hialeah Storage is led by Richard Beavers, who owns Beaver Realty LLC. He’s also president of an offshoot company, Self Storage Associates, which received a $14.7 million loan from Jernigan last fall to build a CubeSmart facility near the Little Gables neighborhood of Miami.

Source:
The Real Deal, Self-Storage Developer Buys Land in Hialeah Gardens, Scores Construction Financing