Albuquerque private equity firm opens Sarasota self-storage facility

A New Mexico private equity firm has opened a new 928-unit self-storage facility on land in Sarasota it bought less than two years ago.

The facility — under the Extra Space Storage brand — is at 2480 17th St., just west of Beneva Road. Sarasota County property records show DXD Capital paid $2.2 million for the 2.83-acre property in December 2024.

The firm says the three-story, 96,843-square-foot facility is one of three it began construction on last summer. A Georgetown, Texas, facility opened in April and another is still being built in Richmond, Virginia.

DXD says the Sarasota project was “designed with the surrounding neighborhood in mind.” There are two mature grand oak trees on the property that were preserved with the construction company, DC Construction Associates, working around the trees, adjusting grading, utility routing and site layout to ensure both remained intact, according to the statement.

Albuquerque-based DXD has raised $240 million in capital and has invested in 35 ground-up developments and one seven-facility portfolio acquisition.

The Sarasota development, and the other two, was part of a partnership with Mar-Gulf Management and MDI Capital LLC, the international real estate subsidiaries of Kuwait Financial Centre, according to the statement.