- Over 30 countries are represented in the fund’s investor base
- Fund III will focus on acquiring self storage assets in undersupplied markets across the US
- The fund has deployed 18 percent of its total equity
Prime Group Holdings, a private equity real estate firm, has closed its third self-storage fund at a hard cap of $2.5 billion, beating its $1.5 billion target.
Prime Storage Fund III’s limited partners include sovereign wealth funds, public pension plans, university endowments, banks, insurance companies, family offices and foundations. Over 30 countries are represented in the fund’s investor base.
Fund III will focus on acquiring self storage assets in undersupplied markets across the U.S. and streamlining operations through institutional management. To date, Fund III has deployed 18 percent of its total equity.
On the fundraising, Robert Moser, Prime Group’s founder, principal, and CEO said in a statement, “We are pleased to have closed our third flagship fund, the largest in history in the self storage sector. This achievement is a testament to the strength of our platform, our differentiated, data-driven investment approach and experienced team. We are grateful for the support from our new and existing investors as we seek to continue to capitalize on a resilient asset class to deliver market-leading investment performance.”
Based in Saratoga Springs, New York, Prime Group is an owner of self storage assets in North America.
Prime Group manages assets worth approximately $4 billion on behalf of a global investor base.