PHILADELPHIA, Pa. - November 18, 2025 - Hearthfire Holdings, a private real estate investment firm with a focus on self-storage assets, today announced the successful closing of a recently constructed, Class-A self-storage facility in Taylor, Michigan. The transaction marks a strategic expansion into the Detroit metro market and complements Hearthfire’s nearby Romulus development.
This new construction asset is a fully climate-controlled property with 927 units totaling 92,375 net rentable square feet. After being delivered with a Certificate of Occupancy in July 2025, the facility is now open and actively in lease-up.
Market & Investment Highlights
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Underserved Market: Over 96,000 people are living within a 3-mile radius, and the current storage supply is only 6.5 square feet per person (with only 3 square feet of climate-controlled space per person), significantly less than the national average.
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Impact of New Supply: The 43,337 NRSF pipeline projects in the trade area would push saturation to about 7 sf/person, which is still well below market equilibrium levels.
Business Plan & Execution
Hearthfire will operate the Taylor facility under the Extra Space Storage platform, leveraging its national scale, data-driven pricing tools, marketing engine, and professional management capabilities.
Key operational goals:
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Optimize lease-up value while reducing capital exposure, since the facility is already open and leasing.
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Enhance tenant satisfaction by increasing security and offering improved amenities, such as a covered loading area, to further boost rental income.
Portfolio Fit
This acquisition aligns squarely with Hearthfire’s investment framework: targeting high-growth, undersupplied markets with value-add upside, and deploying capital in institutional-quality assets that offer strong exit optionality. The Taylor facility’s proximity to existing assets and its high-quality positioning make it highly attractive to future buyers, including REITs, private equity groups, and aggregators.
Acknowledgments
Hearthfire Holdings acknowledges the contributions of:
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Brokers: Jesse Luke and Scott Rihm of Equicap Commercial
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Legal Counsel: Jonathan Gremminger of Sherman Silverstein
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Lenders: Michigan Schools & Government Credit Union (Lee Panagiotides, Senior CRE Lender) and Pace Equity, LLC, led by Julie Sommes
Please contact investors@hfireholdings.com for additional information or visit https://hfireholdings-22792939.hs-sites.com/invest-in-motor-city-2025. All media inquiries and interview requests should be directed to Thomas Mustac, Senior Publicist at Otter PR, at thomas.mustac@otterpr.com.
About Hearthfire Holdings
Hearthfire Holdings is a real estate and private equity firm focused on self-storage investments. The company boasts more than $180 million in assets under management and nine successful exits, with an established reputation for selection of markets, operational sophistication, and investor-aligned structures. Led by Sergio Altomare, co-founder and former Executive Director of Technology at the Federal Reserve, Hearthfire applies institutional-level financial management, advanced technology, and highly disciplined real estate execution to locate and monetize underperforming assets and development opportunities.
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