$20M construction loan secured for Fort Lauderdale self-storage development

• JLL Capital Markets has arranged a $20 million construction loan on behalf of Urban Street Development for Tarpon River Self Storage, a Class A self-storage development in Fort Lauderdale, Florida.
• Pinnacle Financial Partners and Synovus provided the construction loan for the project.
• Located 1.8 miles from downtown Fort Lauderdale, Tarpon River Self Storage is positioned to benefit from the area's rapid population growth and a self-storage market with occupancy consistently above 90%.

MIAMI, Oct. 13, 2026 – JLL Capital Markets announced today that it has arranged a $20 million construction loan for Tarpon River Self Storage, a 97,862-square-foot, Class A self-storage development in Fort Lauderdale, Florida.

JLL represented the borrower, Urban Street Development, to secure the construction loan through Pinnacle Financial Partners and Synovus, represented by Will Ruiz. Urban Street Development acquired the land in December 2022.

Tarpon River Self Storage will comprise 1,070 units in a five-story, Class A facility. All units will be 100% climate-controlled, a premium feature in South Florida's humid climate.

The property is located at 201 S.W. 14th St. in Fort Lauderdale's Tarpon River neighborhood. The 1.82-acre site sits approximately 1.8 miles from downtown Fort Lauderdale and 1.5 miles from Rio Vista, one of the city's wealthiest neighborhoods with home prices exceeding $5 million. It is also two blocks from Davie Blvd., which carries approximately 32,000 vehicles per day.

The property serves a population of more than 127,000 within three miles. Fort Lauderdale's self-storage market has maintained occupancies above 90%, with annual rental growth of approximately 5% to 7%.

The JLL Capital Markets Debt Advisory team was led by Senior Director Michael DiCosimo, Director Max Lescano and Analyst Luke Maganas.

“Tarpon River Self Storage builds on Urban Street Development's strong track record for shaping the Fort Lauderdale with best-in-class developments,” said DiCosimo. “The infill Fort Lauderdale location and Urban Street reputation demanded strong loan terms in a competitive process. This property will be a great success.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Urban Street Development (USD) is a creative and forward-thinking entertainment and lifestyle developer that prides itself on putting people first. Led by Alan Hooper and Tim Petrillo, two Fort Lauderdale locals who use their unique experience to understand complex real estate needs and apply creative strategies to achieve dynamic neighborhood transformation, the company has a passion for community revitalization and creating long-term value. With an emphasis on creating places where people and businesses can flourish, Urban Street Development puts the right projects in the right places. Their team of professionals understands the challenges of redevelopment and the possibilities of transformation. The company specializes in all aspects of the development cycle and is committed to creating positive economic impact and positive community relations in the areas they serve. For more information, please visit https://urbanstreetdevelopment.com.