Spartan Investment Group Closes 2024 With $100M Fundraise and $175M in Self-Storage AcquisitionsSpartan Investment Group Closes 2024 With $100M Fundraise and $175M in Self-Storage Acquisitions

Spartan Investment Group LLC, a privately held real estate investment firm that specializes in self-storage and operates the FreeUp Storage brand, added $175 million in acquisitions in 2024, fueled by a $100 million capital raise. The company purchased 13 properties across six new markets, according to a press release.

The acquisitions comprise a combined 839,859 square feet in 7,446 units. The properties are in Florida, Georgia, South Carolina, Tennessee and West Virginia as well as the Pacific Northwest. The firm is targeting continued growth in 2025, with plans to complete four ground-up developments and finalize several acquisitions that are already in its pipeline, the release stated.

“Despite economic headwinds, the self-storage industry remained resilient. At Spartan, our rigorous approach to vetting investment opportunities and identifying new markets has been a key factor in our success at continuing to scale our portfolio,” said company cofounder Ryan Gibson, who also serves as chief investment officer and president. “Located in high-growth markets across the country, the properties we acquired this year are primed to meet the increasing demand for storage in their respective communities, all while delivering substantial value to our investors.”

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Founded in 2014 and based in Golden, Colorado, Spartan operates more than 65 self-storage facilities nationwide.