Prime Group acquires three self storage portfolios spanning 1.725m s/f

Saratoga Springs, NY Prime Group Holdings, LLC (Prime Group), a vertically-integrated private equity real estate firm, has completed the acquisition of 30 self storage properties comprised of approximately 1.725 million rentable s/f across 10 states. The properties were acquired in three separate portfolio transactions that took place in a span of less than 90 days, all on behalf of the firm’s flagship investment vehicle, Prime Storage Fund III, LP.

The acquisitions include:

• 14-property portfolio consisting of 800,000 rentable s/f of self storage in the Hudson Valley region of New York State;

• Five-property portfolio in Northern New Jersey consisting of 245,000 rentable s/f of self storage; and

• 11-property portfolio consisting of 680,000 rentable s/f of self storage in eight states across the Midwestern, Southeastern and Northeastern U.S.

The facilities will be managed by Prime Group and will be operated under the Prime Storage brand.

“These portfolio transactions meaningfully expand our self storage portfolio and presence across the U.S., and we look forward to leveraging our team’s extensive property management expertise to enhance and optimize these assets,” said Robert Moser, Prime Group’s founder, principal, and chief executive officer. “Completed in the span of several weeks, these transactions reflect Prime Group’s acuity in identifying high quality assets in attractive, growing markets backed by strong demographics, as well as our team’s execution and underwriting capabilities.”

Prime Group has a sizable presence across North America, with facilities spanning 28 U.S. states, the islands of St. Thomas and St. Croix, and two Canadian provinces. Prime Group owns and operates over 300 self storage facilities.