The self-storage market is entering 2023 facing headwinds from flattening street rates, increased expenses, capital markets challenges, and the slowing economy.
"But operators remain optimistic about income growth coming from resilient demand and higher renewal rates while deliveries begin to subside," Paul Fiorilla, Director of U.S. Research Yardi Matrix, tells GlobeSt.com.
That optimism is reflected in Prime Group Holdings' recent announcement that it has closed its third flagship self-storage fund, Prime Storage Fund III at the fund's hard cap of $2.5 billion, exceeding its $1.5 billion target.
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