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

• 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.

• 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:

• Optimize lease-up value while reducing capital exposure, since the facility is already open and leasing.

• 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:

• Brokers: Jesse Luke and Scott Rihm of Equicap Commercial

• Legal Counsel: Jonathan Gremminger of Sherman Silverstein

• 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.

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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