Pegasus Group, a real estate investment and management company that owns and operates approximately 60 self-storage facilities nationwide, is partnering with the Arizona State Retirement System (ASRS) to acquire and manage additional properties. Created in 1953, ASRS is a state agency that provides retirement and other benefits for state employees and has assets of approximately $30 billion. The financial strength of ASRS will allow Pegasus to compete aggressively and close quickly on individual self-storage assets and portfolios throughout the United States, according to a company press release.
Based in Walnut Creek, Calif., and founded in 1988, Pegasus specializes in self-storage investments. Its portfolio is primarily comprised of facilities operated and managed under the Central Self-Storage brand name.
Pegasus recently completed the acquisition of seven self-storage facilities in Minnesota and one in Portland, Ore. All eight properties were rebranded as Central Self Storage.