Search
 

Value Store It Gets $5M for Additional Facility

MIAMI-The financing, provided by BankAtlantic, is for construction and mini-permanent financing needed to develop a self-storage facility here. The 67,000-plus-sf facility also will house ground-floor retail space.

By Melissa Bogdany | Updated on April 28, 2004

MIAMI-Value Store It of Miami has received a nearly $4.9 million loan for an additional self-storage facility in that city. BankAtlantic of Fort Lauderdale provided the funding. The transaction will help fund the development of a 67,000-sf self-storage facility at 901 N. Miami Beach Blvd. It also will include ground-floor retail space. The project is being developed by Todd Ruderman, a principle of Tarco Properties.Earlier this year, Value Store It also obtained a $4.6 million loan to help the company open its second facility at 9101 N.W. 7th Ave., also in Miami. That funding was used to convert an approximately 53,000-sf industrial building into a self-storage facility.Amy Engelberg of BankAtlantic’s Commercial Lending Division represented the bank in the most recent transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.