Sunday, November 21, 2021

DXD Capital and Insite Property Group purchase land on Oahu, Hawaii to develop Class-A storage facility

 

 HONOLULU, Hawaii—DXD Capital, a self storage investor and developer, purchased 2.34 acres of land with joint venture partner, InSite Property Group, in the Kapolei Business Park located on Kalaeloa Boulevard in Kapolei, Hawaii.

 InSite will develop and operate the asset for the partnership under their SecureSpace brand. 

Construction on the new 853-unit facility is scheduled to begin development in August 2022 with opening scheduled for September 2023. 

“While the pandemic and other economic changes have helped with the growth of self storage, we are confident in the long-term trajectory of the industry,” said Drew Dolan, DXD Capital Principal and Fund Manager.

Drew Dolan

“Oahu, and Kapolei in particularly, has exemplary fundamentals and demand to warrant a new self storage facility.”

This property was acquired through DXD Self Storage Fund I which it launched in November 2020.  The $50 million fund will be used to primarily invest in ground-up development of Class A, multi-story, climate-controlled self storage facilities across the United States. 

This acquisition comes a few months after DXD Capital broke ground on 1,100-unit self storage facility in Las Vegas, Nevada and another in Litchfield Park, Arizona.

 DXD Capital has begun development on three facilities this year that will total 3,299 units.

Keith Wetzel

Keith Wetzel, InSite Property Group Partner went on to say “We are excited to partner with DXD Capital to develop a Class A self storage facility in Oahu, our third property in the market. 

"The property will have excellent visibility on Kalaeloa Boulevard to serve the fast-growing City of Kapolei.”

 CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

www.dxd.capital.

https://www.InsitePG.com 

 

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