Prestige Storage Acquires Self Storage Portfolio In Western Michigan With $20.3M Loan

Prestige Storage, in partnership with Peaceable Street Capital, has acquired a 12-property portfolio in western Michigan. The self-storage portfolio spans across Muskegon, Fruitport, Spring Lake, Kent City, and West Olive markets. The total square footage of the portfolio is 490,302, with a total of 2,956 units.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $20,300,000
• Address: Self Storage Portfolio
• Market: Muskegon, Fruitport, Spring Lake, Kent City & West Olive
• Number of Units: 2,956

The acquisition loan of $20.3 million was provided by Spring Lake Storage LLC. The properties were previously owned by a private owner and were successfully sold to Prestige Storage and Peaceable Street Capital.