{"id":10041,"date":"2025-09-26T14:23:19","date_gmt":"2025-09-26T14:23:19","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=10041"},"modified":"2025-10-01T14:25:33","modified_gmt":"2025-10-01T14:25:33","slug":"mmcc-secures-financing-for-self-storage-construction-project-in-homestead-florida","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/mmcc-secures-financing-for-self-storage-construction-project-in-homestead-florida\/","title":{"rendered":"MMCC Secures Financing for Self-Storage Construction Project in Homestead, Florida"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<figure style=\"width: 460px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" src=\"https:\/\/rebusinessonline.com\/wp-content\/uploads\/2025\/09\/1995-NE-8th-Street_Homestead.jpg\" alt=\"\" width=\"460\" height=\"345\" \/><figcaption class=\"wp-caption-text\">Extra Space Storage will operate the self-storage facility underway at 1995 N.E. 8th St. in Homestead, Florida<\/figcaption><\/figure><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Marcus &amp; Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">The 135,800-square-foot property will operate as an Extra Space Storage facility.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Robert Bhat of MMCC\u2019s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36 months of interest-only payments.<\/span><\/span><\/span><\/p>\n<p><a href=\"https:\/\/rebusinessonline.com\/mmcc-secures-14-5m-construction-financing-for-self-storage-project-in-homestead-florida\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Source<\/span><\/span><\/span><\/strong><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marcus &amp; Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami. The 135,800-square-foot property will operate as an Extra Space Storage facility. Robert Bhat of MMCC\u2019s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer. The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36&hellip;<\/p>\n","protected":false},"author":13,"featured_media":10042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,56],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/10041"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=10041"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/10041\/revisions"}],"predecessor-version":[{"id":10043,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/10041\/revisions\/10043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/10042"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=10041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=10041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=10041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}