NEW YORK, NY – An affiliate of the self-storage owner and operator Prime Group Holdings LLC has secured a $102.5 million loan for the acquisition of a five-property self-storage portfolio.
The 4,000-unit portfolio is situated across three states in New England. Each of the five best-in-class properties are newly-built assets and well-located within their respective markets.
H.I.G. Realty Credit Partners, an affiliate of global alternative investment firm H.I.G. Capital, originated the loan for the buyer.
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"We are excited to finance an asset class with such strong fundamentals," states Michael Mestel, managing director at H.I.G. Realty Credit Partners. "Given Prime's excellent track-record, we look forward to their continued success in these markets."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
