In the 3rd quarter of 2017, KI Celebration, LLC, a subsidiary of KI Florida Fund I, acquired an interest in Boulevard Development Partners, LLC, which owns a 4.85 acre tract of commercial land in Celebration, Florida. Boulevard Development Partners will develop a portion of this property into a climate controlled self-storage facility featuring nearly 700 units.
Celebration, Florida is a rapidly growing community adjacent to Walt Disney World. Due to tight development restrictions, Celebration has several hundred thousand square feet of unmet self-storage demand. KI Celebration’s investment represents an opportunity to deliver the first new self-storage project to this market in over a decade. The project broke ground in the 3rd quarter of 2017, and construction is scheduled to be completed in 2018.
KI Celebration, LLC is the third investment of KI Florida Fund I, a commercial real estate fund focused on value-added investments in Florida. For more information, please contact Darren Wilson of Kennedy Investments at (813) 554-1200.