Aztec Group Arranges $14.5 Million In Financing For Miami Storage Facility

Aztec Group‘s Peter Mekras has arranged $14.5 million in financing for Tamiami Storage in Miami.

Tamiami Storage is a 100% climate-controlled, 4-story self-storage building consisting of approximately 749 storage units or 72,920 rentable square feet.

Tamiami Storage was developed by the Feldman Companies in 2024.  Led by Mitch and Jordan Feldman, The Feldman Companies is based in North Miami Beach and has over 20 years of real estate track record of having owned and developed over 3.5 million square feet of real estate across the United States.  The Feldman Companies also owns 120,000 square feet in Miramar and 163,000 square feet in Palmetto Bay and is developing 135,729 square feet in Miami’s Little River, 125,000 square feet as an expansion to Palmetto Bay, 180,000 in Naranja and 145,000 square feet in Parkland.  Aztec Group was engaged on an exclusive basis to source financing for the Tamiami Storage.    The financing opportunity of Tamiami Storage was awarded to a local community bank and features a fixed rate on a nonrecourse basis.

“The Aztec and Feldman teams worked together very closely to negotiate the best available terms for this refinancing. I was extremely pleased with the process, effort put forth and the final result.” said Mitch Feldman, President of The Feldman Companies.

Tamiami Storage is located within a 10-minute drive from Florida International University’s 342-acre campus with high visibility on SW 8^th Street/Tamiami Trail.  The immediate area features thriving demographics, boasting 95,000 households in a 5-mile radius and tight storage market fundamentals with only 3.77 square feet of storage space per capita (below Florida’s 8.72 and national 7.82).  The state-of-the-art facility is managed by Extra Space, the largest self-storage owner & operator in the U.S. controlling over 300 million square feet in over 4,000 self-storage facilities.

“Aztec was exclusively engaged and sourced multiple proposals for the financing of Tamiami Storage.  We worked with the Feldman Companies’ team to select the best lender and to assess the best structure for this best-in-class asset.  Aztec delivered an execution that is a testament to the merit of the sponsorship, the lender, and our investment banking process.” said Mekras, President of Aztec Group.

Aztec’s team has recently closed over $50 million in self-storage bridge and construction loan financing.