Prime Group Holdings has made its first investment in the British Columbia market with the acquisition of a self-storage property in the inner Vancouver suburb of Burnaby, British Columbia.
The acquisition was made by the firm’s investment vehicle, Prime Storage Fund III. The transaction follows Prime Group’s recent acquisition of its first Canadian self-storage property in the Edmonton suburb of Sherwood Park, Alberta.
Located just east of Vancouver, the 1,018-unit facility is comprised of 67,476 rentable square feet and includes 63 parking spaces. It is visible from and easily accessible to the Trans-Canada Highway. Prime Group will manage the facility, which will operate under the Prime Storage brand.
“We are excited to continue strategically expanding our presence in Canada by bringing our institutional property management and self-storage expertise to the attractive British Columbia market,” said Robert J. Moser, Prime Group’s founder, principal a
