Fundraising - JANUARY 24, 2017

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Prime Group launches second self-storage fund

by Jody Barhanovich

Prime Group Holdings has launched Prime Storage Fund II, according to IREI’s FundTracker database.

Prime Storage Fund II is a value-added real estate fund that will invest in self-storage properties across the United States. The closed-end fund has a maximum fundraising size of $750 million and has currently raised $200 million in equity commitments so far. The fund has a target final close scheduled for July 31.

The fund’s predecessor, Prime Storage Fund I, held a $154 million final close in 2016, with $131 million deployed. The fund opened in October 2015 with a $175 million equity fundraising target.

Prime Group owns and manages more than $800 million of self-storage properties. Its portfolio totals more than 7.3 million rentable square feet contained in more than 125 self-storage facilities in geographically diverse markets throughout the United States.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy