Key Takeaways
- • Albuquerque-based DXD Capital opened a 928-unit, 96,843-square-foot Class-A self-storage facility in Sarasota under the Extra Space Storage brand, acquired for $2.2 million in December 2024 on 2.83 acres.
- • The Sarasota facility is the second of three ground-up self-storage developments completed by DXD; a Georgetown, Texas location opened in April 2026, with a Richmond, Virginia project still under construction.
- • DXD Capital has deployed $240 million in raised capital across 35 ground-up developments and one seven-facility portfolio acquisition, establishing a significant presence in the self-storage market.
- • The development was executed as a partnership with Mar-Gulf Management and MDI Capital LLC, the international real estate subsidiaries of Kuwait Financial Centre, signaling institutional backing from Middle Eastern capital.
- • The Sarasota property design preserved two mature grand oak trees through collaborative site engineering, demonstrating environmental sensitivity in the development approach.
Summary
DXD Capital, a New Mexico-based private equity firm, has opened a 928-unit self-storage facility in Sarasota, Florida, marking continued expansion in the self-storage development sector. The Extra Space Storage-branded property, located at 2480 17th Street west of Beneva Road, represents the second operational completion in a three-project pipeline launched in summer 2025. DXD acquired the underlying 2.83-acre land parcel for $2.2 million in December 2024, according to Sarasota County property records.
The three-story facility encompasses 96,843 net rentable square feet and was constructed by DC Construction Associates. The development was executed in partnership with Mar-Gulf Management and MDI Capital LLC, both international real estate subsidiaries of Kuwait Financial Centre, underscoring institutional capital participation from the Gulf region in U.S. self-storage acquisitions.
DXD's self-storage portfolio has expanded significantly, with the firm having raised and deployed $240 million in capital across 35 ground-up developments and one seven-facility portfolio acquisition. The Sarasota opening follows a Georgetown, Texas facility that commenced operations in April 2026, with a third development under construction in Richmond, Virginia. This multi-market development strategy reflects DXD's systematic expansion across regional markets.
The Sarasota project incorporated environmental considerations in its design and execution. Two mature grand oak trees on the property were preserved through collaborative engineering adjustments to grading, utility routing, and site layout, according to the developer statement. This preservation approach suggests DXD's commitment to community-oriented development despite the commercial nature of the asset class.
The three-story facility encompasses 96,843 net rentable square feet and was constructed by DC Construction Associates. The development was executed in partnership with Mar-Gulf Management and MDI Capital LLC, both international real estate subsidiaries of Kuwait Financial Centre, underscoring institutional capital participation from the Gulf region in U.S. self-storage acquisitions.
DXD's self-storage portfolio has expanded significantly, with the firm having raised and deployed $240 million in capital across 35 ground-up developments and one seven-facility portfolio acquisition. The Sarasota opening follows a Georgetown, Texas facility that commenced operations in April 2026, with a third development under construction in Richmond, Virginia. This multi-market development strategy reflects DXD's systematic expansion across regional markets.
The Sarasota project incorporated environmental considerations in its design and execution. Two mature grand oak trees on the property were preserved through collaborative engineering adjustments to grading, utility routing, and site layout, according to the developer statement. This preservation approach suggests DXD's commitment to community-oriented development despite the commercial nature of the asset class.
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