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Jernigan Capital Provides Financing for CubeSmart Self Storage Location Coming to Little Havana

Jernigan Capital Provides Financing for CubeSmart Self Storage Location Coming to Little Havana
Posted: 11/27/2017 Link: TheRealDeal.com
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Atlanta-based Mequity Cos. acquired property in the Little Havana area of Miami for construction of a self storage building.

An affiliate of Mequity bought the development site for $2.3 million from Kay-B LLC, managed by Mario Bramnick.

The South Florida Business Journal also reported that Mequity obtained a $20.17 million loan to finance construction of the eight-story self storage building, which will have 1,152 units. The lender is Jernigan Capital Operating Co.

The 29,750-square-foot development site at 120 and 132 Northwest 27 Avenue is occupied by a 10,240-square-foot retail building that will be demolished.

CubeSmart will manage the 140,273-square-foot self-storage building that Mequity Cos. is developing in Little Havana.

According to its website, CubeSmart now has eight locations in the Miami area.

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