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DXD Capital is constructing a $18.7-million self-storage project located the Allapattah submarket of Miami, FL.

DXD Capital Harnesses Allapattah Apartment Density for $19M Self-Storage Development

DXD Capital, a real estate and private equity fund based in Albuquerque, NM, is building a $18.7-million self-storage project located the Allapattah submarket of Miami, FL.

The facility will be a five-story building with 865 units situated in an area with strong rental growth. According to DXD Capital, Allapattah is a prime market for self-storage due to its high multifamily occupancy of 96.79%, with 4,913 multifamily units planned for delivery. Apartment dwellers are three times more likely to use self-storage.

The Allapattah project is part of DXD Capital’s continued investment in self-storage development. According to the company, self-storage experienced strong rental rate growth through the pandemic and represents one of the fastest growing investment opportunities in the US.

“Real estate professionals have a rough understanding of land costs, construction costs, property taxes and many different metrics,” said Martha Hargrove, DXD Capital managing director – investor relations. “From there, we can determine what rental rates we must achieve to deliver our investors outsized returns.”


Inside The Story

DXD Capital's Hargrove

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.