SARATOGA SPRINGS, N.Y.–(BUSINESS WIRE)–Prime Group Holdings, LLC, a vertically-integrated private equity real estate firm based in Saratoga Springs, New York, today announced the acquisition of 30 self storage properties comprised of approximately 1.725 million rentable square feet 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:
- a 14-property portfolio consisting of roughly 800,000 rentable square feet of self storage in the Hudson Valley region of New York State;
- a 5-property portfolio in Northern New Jersey consisting of approximately 245,000 rentable square feet of self storage; and
- an 11-property portfolio consisting of approximately 680,000 rentable square feet 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 J. 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.
About Prime Group Holdings
Prime Group Holdings is a vertically integrated private equity real estate firm focused on self storage and other alternative real estate asset classes, managing assets worth well over $4 billion on behalf of a global institutional investor base. Headquartered in Saratoga Springs, NY, with a regional office in Jupiter, FL and investment origination offices in Denver, CO and Hackensack, NJ, the firm has more than 700 employees, including investment and finance professionals, property managers, an investor reporting team, construction and marketing personnel, and deal-sourcing professionals. For more information, please visit https://www.goprimegroup.com/.
