Prime Group Acquires Two Self-Storage Portfolios Totaling 1 MSF in New York, New Jersey

SARATOGA SPRINGS, N.Y. — Prime Group, an investment firm based in Saratoga Springs, N.Y., has acquired two self-storage portfolios totaling roughly 1 million net rentable square feet in New York and New Jersey. The number of units and exact locations were not disclosed. The first portfolio consists of 14 properties totaling roughly 800,000 net rentable square feet that are located in New York’s Hudson Valley region. The second portfolio comprises five properties totaling 245,000 net rentable square in Northern New Jersey. Prime Group acquired both sets of properties in conjunction with a third portfolio that totals 680,000 net rentable square feet across 11 properties that are scattered across the country. The new ownership will operate the facilities under its Prime Storage brand. The seller and sales price were also not disclosed.