Real estate development and investment firms HB Capital Group LLC and Liberty Base Investments are building a three-story self storage facility on Vineland Road in Kissimmee, Fla. The land on which the project will be built is part of an 82-acre time-share development called Calypso Cay Vacation Villas. The 900-unit storage building will be managed by Extra Space Storage Inc., a real estate investment trust and third-party management firm, according to the source.
The partnership acquired the site this year for $1.35 million. The storage facility will feature Caribbean-inspired architecture to complement the style of the time-share resort, the source reported. Self storage architect Patrick Pilot is the designer.
The property is near dining and retail establishments, and is seven miles from Disney World.
Based in Miami, HB Capital is a privately held real estate developer, investor and owner that focuses on acquisitions, asset management and development, primarily in the Midwest and Southeast. Its portfolio of more than 50 assets includes hospitality, industrial, office, residential and retail properties in eight states. Together they comprise about three million square feet.
Liberty is a South Florida-based real estate investment and development firm focusing on acquisitions, asset management and development, primarily in the Southeast.