Prime Group acquires four self-storage facilities along East Coast
Prime Group Holdings, a vertically integrated private equity real estate firm, announced the acquisition of four self-storage properties comprising approximately 362,000 rentable square feet and 3,540 units along high-traffic corridors in key metropolitan areas along the East Coast. Located in Florida, New York and North Carolina, the properties were acquired in four separate off-market transactions through the firm’s third flagship fund, Prime Storage Fund III.
The portfolio includes a 50,800-rentable-square-foot, multistory facility in Shirley, N.Y., in Eastern Long Island; a three-building, 108,900-rentable-square-foot facility in the Charlotte suburb of Gastonia, N.C.; a two-building, 113,701-rentable-square-foot facility in Nanuet, N.Y., outside of New York City; and a two-building, 88,700-rentable-square-foot property in the Tampa suburb of Temple Terrace, Fla. Each property is a modern, climate-controlled facility. The properties will be managed by Prime Group and wi