Real Estate Investment Firm Patriot Holdings Launches Fund to Acquire and Develop Self-Storage

September 22, 2023
min read

Patriot Holdings Fund II was featured in Inside Self Storage, read the full article here.

Real estate development and investment firm Patriot Holdings LLC has launched Patriot Fund II to acquire and develop industrial, manufactured-housing and self-storage facilities nationwide. The company expects to raise up to $25 million from investors, with a minimum stake of $50,000 per individual, according to a press release.

“The strategy of the Patriot Fund II will be to acquire off-market assets owned by non-institutional owners, located in stable or growing economies,” company officials said. “There is a limited window of opportunity for these value-add assets to be bought and sold because institutional buyers and private-equity companies are entering the sector and overpaying for mom-and-pop owned assets that have tremendous upside.”

Jeremiah Boucher, Patriot Holdings CEO

"We expect to drive returns of IRR 22% to 29% and a 2.25x Equity Multiple across the assets in Fund II."

Patriot’s self-storage interests are operated under the All-Purpose Storage brand, which is headquartered in Keene, New Hampshire. The company has a portfolio of 37 New England facilities comprising more than 910,000 square feet.

The company’s first fund raised $15 million and was closed to new investors in May. It has produced a 15.7% cash-on-cash return for investments made by Jan. 1, 2020. Patriot expects many of its existing investors to reinvest in Fund II, the release stated.

Patriot is based in Las Vegas. Its full real estate portfolio includes more than $150 million in assets across 16 states.

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