Prime Group Holdings Secures $102M Loan for Self-Storage Portfolio
H.I.G. Realty Credit Partners originated the loan for the acquisition of the five-property, 4,000-unit portfolio.
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.
“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.”