The transcript from this week’s MiB: Bob Moser, Prime Group Founder and CEO, is below.
You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.
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This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
Barry Ritholtz: This week on the podcast, what a fascinating conversation. Bob Moser is founder and CEO of Prime Group Holdings. Uh they’re the largest privately held self storage owner operator, investor in the country. Fascinating conversation. Started acquiring properties in college. Eventually, uh started doing RVs and uh mobile homes. Just really fascinating uh methodology of identifying undervalued properties. Uh I thought the conversation was fascinating and I think you will also. With no further ado, Bob Moser of Prime Group Holdings.
Bob Moser: Thanks for having me.
Barry Ritholtz: So, let’s start out with your your background, bachelor’s with honors in economics from Union College. What what was the original career plan?
Bob Moser: Tell you the truth, it was always real estate. So, I’ve always had an affinity for real estate.
Barry Ritholtz: Really?
Bob Moser: Yeah. My mom tells the story that when I was like 14 or 15, she’d drop me off at the local real estate broker’s office and I would drive them nuts for a couple hours and it was either that or just to get rid of me out of her hair probably. But I always had it. Got my real estate license before college. I got my brokerage license while at college and actually started the business basically my sophomore junior year while at Union.
Barry Ritholtz: Wow, that’s amazing. So, so your college thesis focused on how to value income producing real estate investments by comparing demand and value like so you really knew exactly what you wanted to do by your senior year. What was the outcome of that college thesis?
Bob Moser: It’s a good question. So, it was on the valuation of income producing properties using hydonic and non-hydonic regression analysis.
Barry Ritholtz: So, when we say hydonic you’re adjusting for quality…
Bob Moser: …location, attributes of the property, uh taking away basically the revenue stream, what else adds value to the asset. Uh and I was really hyperfocused on fragmented real estate assets. So basically every real estate asset when you look at it goes through the same life cycle when they’re originally owned, developed, managed by local regional developers. Then over time the larger groups come in and consolidate. So I was looking for that reflection point when that consolidation starts. And I was focused back then in college on the thesis for manufactured housing communities.
And when you’re a college student, you know, people pick up the phone when you call because they’re always trying to help somebody out. And I was very fortunate to speak to Sam Zell uh and some other obviously leaders in the real estate business. And they gave me some great insight. And one of the ones he said to me was that there’s a lot of buyers, but there’s not much product out there. You have to go out and find product for people.
So, I decided to start a company in college to facilitate that transaction. Obviously, I didn’t have any money. My dad was a retired New York City detective. Uh my mom was a teachers aid, so I didn’t grow up with any wealth. But I figured out that if I could find good product, there was a numerous amount of buyers to buy it. And I did this by using the Freedom Information Act of New York and then various other states where I figured out that I could track all real estate asset classes using the the same common denominator of water and sewer per So I went down to Albany and I made my request…
And one day, you know, UPS knocked at my door… and handed me a box. I’m like, “Oh, there’s my real estate information.” And he’s like, “Actually, that truck out there is.” I had boxes and boxes of the old DOSs printouts of every self storage facility, every mobile home park, every RV park, marina, multifamily. Just so some of the younger listeners can appreciate this, forget AI. This is really before there was any sort of usable internet… This is physical paper stored in physical um office buildings and file cabinets. I had to pay per page on the print out.
Barry Ritholtz: And what did that cost and how how long ago was this?
Bob Moser: So this was back in 97 96 97. Uh it probably cost me a couple hundred dollars which I really didn’t have as a college student. But I realized quickly that that information was the key to finding assets. And what I would do is I would systematically go through these lists basically county by county… identifying the institutional quality assets that were still owned by mom and pops or non-institutional investors. Then I would do a deep dive on those assets. I would call and get the rent. I would call the tax assessor to get the real estate taxes. My goal was to know more about the real estate than the owner did by the time I called them on the phone to see if they’d be interested in selling.
Barry Ritholtz: That’s unbelievable. So that’s what led you to unconventional and overlooked segments. You mentioned marinas and RV parks and um other things like that. Um uh manufactured homes. How long did it take you before you managed to acquire your first property?
Bob Moser: So, there was a I I acquired my first property shortly after college. And what happened was there was a mobile home park in Streetsboro, Ohio. Uh it was actually called Camelot Village. Again, a guy named Mike Duffy owned it. And I used to call Mr. Duffy probably every 30 days to see if he would sell his asset. And one day, I finally got him to sell. And I made a nice fee on the transaction. But I still needed a little bit more. And the year I graduated, my mom took a home equity loan against the family house.
Barry Ritholtz: Is that how you financed?
Bob Moser: That’s how I financed my first acquisition. So before that, I was facilitating transactions, making fees, almost like a broker, but not a listing broker. And then the first asset I bought was when my my parents took a home equity loan.
Barry Ritholtz: So if in you mentioned you got your real estate license in college, how are you finding buyers for these sort of unconventional properties. Are you going to the big institutions and saying, “Hey, I have a property that fits into your portfolio.”
Bob Moser: No, what I actually did was I had these lists obviously that I got from the foil request and I kept on seeing the same name show up in buyers or that were owners. Okay. So, if I knew they own five assets in that particular region, I thought, hey, if I develop one or I get a relationship with a seller that would sell, I would bring it to that.
Barry Ritholtz: You knew where to bring it.
Bob Moser: 100%.
Barry Ritholtz: Really, really quite fascinating. And so, when did you found your own real real estate brokerage firm?
Bob Moser: So that was basically in college. So that was in college.
Barry Ritholtz: So how long did you do that as a um as a broker rather than an investor or they kind of ran parallel paths?
Bob Moser: No. So I was basically working exclusively for generating fees from like 97 to 2000ish 20 2001. I started buying my first asset around 99 going into 2000.
Barry Ritholtz: So, you ramp up various assets until 2013 when you start Prime Group. Was that the path?
Bob Moser: So, what I did was I so my mom took the home equity loan, my parents did against their home. Uh the first asset I bought actually I had sold to that gentleman 10 months prior and I called them up and I said, “Hey, uh you know, Wayne, I sold you this property. It was on Cape Cod. Uh would you be interested in selling it? And he I sold it to him for 3 million. He ended up selling it to me for 5 million.
Barry Ritholtz: Wow.
Bob Moser: Uh 10 months earlier. And then I moved up to Cape Cod and I actually ran the asset for the first two years to see how the business worked cuz I didn’t want to be that owner that would tell people what to do without actually being able to do it themselves. And then I bought my second property and then I bought my third. And then by 2005, August 12th, 2005, I had a large liquidity event. I sold the group of assets to Sam Zell.
Barry Ritholtz: So So I want to draw a line. So you’re a college kid randomly calling big real estate investors…
Bob Moser: 100%.
Barry Ritholtz: Including Sam Zell who took your phone call.
Bob Moser: Took my phone call.
Barry Ritholtz: And you had a long conversation with him.
Bob Moser: I did. I did.
Barry Ritholtz: And so how many years later is like, “Hey Sam, do your It’s me, Bob. Do you remember me? I have some assets for you.”
Bob Moser: It was funny when you say that because when I was dealing with the CEO, there’s a CEO at the time. Uh I always wonder because I never really spoke to him then after. So I wonder if he actually put two and two together. I’m sure he did.
Barry Ritholtz: So now you have a liquidity event. You’re tapping into Wall Street securitization or to fund this. How uh at what point do you say, “Oh, there’s a ready source of capital. I could just put a rollup strategy together and run all these properties more more efficiently than mom and pops can do…”
Bob Moser: 100%. The what I so basically from let’s say 2000 through 2005 2006 I was acquiring a lot of mobile home RV parks… And what really transitioned to me to become an asset specialist which we are now was how well self storage was doing during the first financial crisis… I decided at that point to become an asset specialist singularly focus on self storage.
Barry Ritholtz: So I’m curious why would self storage do well during the financial crisis. Was it literally people were losing their homes? They had to figure out where all their stuff had to go or what was happening in that period that made that such a a a standout performer.
Bob Moser: I would say it was more the defensive nature of it where these other assets were decreasing dramatically. Storage was holding its own. And it’s need-based real estate. I do not buy aspirational real estate.
Barry Ritholtz: It seems like you are in a variety of different regions everywhere from Saratoga to Springs to Chelsea here in New York City. Um, how do your uh underwriting assumptions differ relative to is this urban, is this suburban…
Bob Moser: So, we truly obviously real estate and that sound cliche, but it’s location, location, location. So, if you look at our portfolio, it basically you take the United States and it looks like a U. So, we’re up and down the coasts… and the reason why we’re along coastlines and then we’re up picking up in the mountain cities out in like Utah and Colorado is that there’s a barrier that’s natural barrier keeping the population tight to a nucleus.
Now, we have built very sophisticated software that helps us pre-identify these areas that we should be buying, not even the area, the exact asset we should be buying even though it’s not for sale. So, we built out this program where it pre basically I can put in our buy box and it populates out of the 60,000 self-storage facilities in the country the ones we should go after… And then what we have is our deal teams, which are group of roughly three dozen people internally that we allocate the deals that fit our criteria to and then they continue to call and visit those owners until we convert them to sellers.
Barry Ritholtz: Really, really fascinating. Coming up, we continue our conversation with Bob Moser, CEO of Prime Group Holdings, discussing the Prime Storage business. I’m Barry Ritholtz. You’re listening to Masters in Business on Bloomberg Radio.
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Barry Ritholtz: I’m Barry Ritholtz. You’re listening to Masters in Business on Bloomberg Radio. My extra special guest this week is Bob Moser… So, let’s talk a little bit about the business model of self storage. I see these areas popping up everywhere… How widely used are they? How profitable are they versus, you know, traditional commercial real estate?
Bob Moser: It’s a great question. So self storage has the lowest break even occupancy of any institutional real estate asset class I can think of. So at 40% occupied, you’re breaking even on expenses.
Barry Ritholtz: So, no lobby, no door man, no showers, none of the things that multi family correct makes so expensive.
Bob Moser: Well, you think about a multif family, if you’re going to turn a unit, it’s going to cost you anywhere from, let’s say, 1,500 to 5,000 depending on what you’re doing. Self storage is $5. We’re sweeping it and replacing a light bulb if there is one.
Barry Ritholtz: Really really quite interesting. What about ancillary revenue streams? We’ve all seen those silly reality shows where they find these, you know, someone abandons a unit and they find some million-dollar painting in there. H how much nonsense is…
Bob Moser: Yeah, I haven’t had that luck. But the uh it’s funny that you bring that up. So, prior to those TV shows, we would have the auctions on site… What happened though, everybody also and started showing up to these had a personality. They thought they were on TV, right? So everything now is virtual. So when we have an auction, it’s all done online. But the and it’s not a revenue source for the business… One of them is a tenant protection program where uh the tenants are able to push the liability of a storm or something happening to their goods onto the landlord for paying a certain price.
Barry Ritholtz: I hadn’t even thought about the idea of a storm. So you live near a coast, there’s a big hurricane coming. Hey, I have a bunch of furniture and I want to get soaked. If we’re if we’re swamped, let’s move it inland to a storage area…
Bob Moser: 100% and and god forbid something happens to their home. You know, obviously a lot of stuff gets moved into the storage facility.
Barry Ritholtz: So, you you guys are the largest privately held self- storage um set of ownership. Uh what’s the competition like? I know I know Blackstone is in here. We see cubes everywhere. We see public storage. Who are your big competitors?
Bob Moser: Correct. So, there’s the group of public companies that you were just mentioning. You have Extra Space, you have public storage, you have CubeSmart, U-Haul, um, and
Barry Ritholtz: U-Haul. I didn’t even think of U-Haul. That’s right.
Bob Moser: Correct. You know, most people think of them just as the moving business, but obviously they own a substantial amount of self storage. Substantial amount. What we do differently is we operate differently… The REITs are highly focused on occupancy. They want to keep their occupancy above 99 92%. Where I’ll trade occupancy for topline revenue.
Barry Ritholtz: And then the related issue I see are the mobile pods people sometimes use is seems sort of adjacent to the space. What what are your thoughts on that?
Bob Moser: So we’re not in that business. Um it’s a lot more labor intensive.
Barry Ritholtz: You got to physically drop the pod off and then come collect it later.
Bob Moser: Correct. So in storage, one of the main benefits is there’s we take no availment risk. So we’re never taking possession of the person’s goods.
Barry Ritholtz: So this really went from kind of a niche to a mainstream investment class over the past couple of years. You were really early in this space. What did you see that others miss…
Bob Moser: It was the fragmentation… highly fragmented when I first entered the asset class uh even back in around 2015 2014 it was roughly 80% still owned by mom and pops.
Barry Ritholtz: Wow. So just the the REITs and the institutionals only own 20% of the the outstanding…
Bob Moser: It’s probably closer to 70 75% so there’s been a lot of validation.
Barry Ritholtz: So a couple of years ago you did a uh a raise, a couple of billion dollars from outside investors… So why go to outside investors rather than go this securitized route?
Bob Moser: It was basically it’s a it’s it’s scale play. So we I knew the asset class was going to consolidate quickly once the other the large institutions understood it better… and the best way to do it was through the co-mingled fund way.
Barry Ritholtz: So, so not hands off REIT like correct uh numbers. So, so let’s you mentioned your investment committee. Walk us through the typical acquisition. How do you source these things? Is it still just calling people up…?
Bob Moser: So, this this is where it takes the correct personality to be this part of the team… So what we use is our proprietary software we have developed inhouse that we load our entire buy box into this software and it projects it’s an AI system every self storage that fits that criteria in the country… then we allocate that deal to the deal team member that covers that area then he or she continues to call that owner every 30 to 45 days until we convert them to a seller.
Barry Ritholtz: What’s the conversation like with a seller? Hey, spoke to you back in uh October. Just checking in, seeing if anything changes. How receptive are people to this?
Bob Moser: So, it’s more than and I get those same email else and it drives me nuts… So when we call, you know, we’re referring to an exact asset… We’ve already been by the asset. We know what the numbers are. But then we visit them on the holiday. We find out when their their birthday is. We send them a card… and then we try to solve that problem. What they do with the money afterwards, how do they maximize their sale proceeds? And we hold their hand through the process.
Barry Ritholtz: That’s amazing. Maximizing returns afterwards. I’m going to assume that’s some combination of it’s it’s obviously capital gains… I would not have thought that a buyer is going to facilitate that process would hold their hand through it…
Bob Moser: Because we want to eliminate any kind of friction. We need to buy assets… If we weren’t buying it this way, we would be buying it like 99% of every other asset where it gets brokered… and at the end you overpaid for the asset.
Barry Ritholtz: The the winner’s curse in a in an auction situation.
Bob Moser: Exactly. The more buyers there are, the more likely it is the winner overpaid. 100%. So we bypass all that and we go directly to the seller…
Barry Ritholtz: That that’s really fascinating… I would not have guessed that degree of complexity, sophistication, and facilitation to the seller.
Bob Moser: Here’s the crazy thing. We’re closing six to seven deals a month.
Barry Ritholtz: So one or two a week.
Bob Moser: On average when you look at it that way.
Barry Ritholtz: So it sounds like just the prep before you make an offer. If it’s a few weeks, it sounds like you’re spending tens of thousands, maybe hundreds of thousands of dollars.
Bob Moser: Easily. But you think about it, if I don’t get that asset today, I might get it in a month… We’re into this for the long run.
Barry Ritholtz: And and when you guys raised fund three, that was the largest dedicated self- storage fund raise at the time. I think that was $2.5 billion or something like that. And and what’s the total um self- storage headcount?
Bob Moser: Uh we have over 300 close to 350 assets. We have around 7 or 800 employees around the country.
Barry Ritholtz: Really really quite fascinating. Coming up, we continue our conversation with Bob Moser… I’m Barry Ritholtz. You’re listening to Masters in Business on Bloomberg Radio.
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Barry Ritholtz: I’m Barry Ritholtz. You’re listening to Masters in Business on Bloomberg Radio and watching Masters in Business on YouTube. My extra special guest this week is Bob Moser… I want to talk a little bit about the state of commercial real estate today. But I still have a handful of of questions I have to ask you um uh about self storage. You mentioned uh small businesses are are a big customer… What percentage of your units are rented by small businesses and and what do they use this for?
Bob Moser: It’s a great question. It’s probably one of the most overlooked aspects of self- storage… The rest is a 30 to 40% are small businesses, contractors, landscapers, a lot of pharmaceutical reps. So, we are their warehouse. We’re the warehouse for that small business that employs the majority of the US population.
Barry Ritholtz: Really, really interesting. And we were talking previously about uh self- storage isn’t covered by the traditional landlord tenant law… This is a lean law system. Is that true in all states?
Bob Moser: 100%. And actually it carries to Canada as well uh in parts of Europe that we’re looking at. But yeah, it it and it’s basically very similar to like a bank loaning money… But it provides a way to collect the rent that’s owed unlike a multifamily where it might take you a year if you’re lucky to evict somebody that’s not paying.
Barry Ritholtz: And you mentioned Europe. Uh I don’t think you have a lot of exposure currently in Europe. How big a push are you looking to make on the continent?
Bob Moser: So, we’ve been doing a lot of digging in figuring out what the different aspects and different cities. You know, it’s interesting because some of the owners in Europe, let’s say, let’s look at London, there will be two or three owners that own the majority of that inventory. Our play again is going out and buying from that oneoff owner… In Europe, they’ve been consolidated into groups. So, it really doesn’t provide us that ability to buy assets that we think are highly undermanaged.
Barry Ritholtz: So in the US this laws vary somewhat from state to state but it’s fairly uniform. Um how different is it country to country in in the EU or UK?
Bob Moser: Yeah but even in the states the when it comes to the actual implementation of the lean law it does there’s different timings… So we have a whole legal compliance team that works on this on a daily basis to make sure that each state law is being followed…
Barry Ritholtz: Really Interesting. So, commercial real estates have seeing higher uh rates of of costs, interest rates and inflation have been kind of stubborn and sticky. What sort of refinancing stresses that create or are you sidest stepping that whole interest rate chase these days?
Bob Moser: So, we’re very fortunate being in real estate for as long as we have. We have developed really deep relationships with the large institutional lenders uh from CitiBank, the Goldman, the JP the BMO to uh Northern Trust… But we spend a lot of time making sure that we’re hedging our interest rates.
Barry Ritholtz: We’ve certainly seen shifts in in demographics with everything from migration and remote work and aging populations. How does that affect uh demand for commercial real estate, both self storage and other related real estate?
Bob Moser: It’s a big demand driver for self- storage. So, when you think about it, people now are living in apartments more. I think I just heard the average the firsttime home buyers now until like they’re 40 now. It’s crazy when it used to be like 28 or 26. So obviously they live in smaller apartments, they need place to put their stuff.
Barry Ritholtz: Yeah. Speaking of office, we’ve seen a lot of underutilized um office properties… I just saw a piece in the Wall Street Journal uh this week that there has been a sudden surge of office to residential conversions in lower Manhattan… Do you track that sort of stuff?
Bob Moser: We’re actually working on one of those now, actually.
Barry Ritholtz: Oh, really? So, commercial office to residential real estate.
Bob Moser: So, what it was was we there was a uh a group of assets in West Chelsea… We’re converting one to a high-end storage of the future we’re calling it… And the other part of the project was a nine story building that’s on the Highline that we are going in to have it converted from office to residential.
Barry Ritholtz: On the Highline, all those properties have become incredibly valuable… When you say high tech self storage, I can imagine uh an app… What What is high-tech self- storage look like?
Bob Moser: So, we have actually harnessed the free energy of your cell phone to unlock the lock.
Barry Ritholtz: Mhm.
Bob Moser: So, it’s pretty interesting… So, basically, if you look at the lock is what controls this business, the actual lock that’s put on… So, we’ve devised and have built a lock that your cell phone gets an electronic key sent to it and then you can use that to open up the lock. There’s no batteries needed. There’s no Wi-Fi needed.
Barry Ritholtz: Some of the new EVs are the same way where you show up with a phone and it not only unlocks the car, it lets you start it.
Bob Moser: So, we’re bringing this to the self storage business and And we have our first 5,000 being deployed as we speak right now… The other thing is if they’re late and don’t pay, their electronic key is turned off…
Barry Ritholtz: That that’s really fascinating. Um, if it’s not Wi-Fi, How does the key operate? Is that Bluetooth or something else?
Bob Moser: It’s purely off. So, your cell phone gives off energy just sitting there. And it was enough to harness to actually flip that solenoid. It’s pretty amazing. So, we’ve been working for a couple years to get this perfected.
Barry Ritholtz: I’m assuming there has to be a battery.
Bob Moser: No battery. Your phone.
Barry Ritholtz: No battery.
Bob Moser: No battery. That’s the key to this. So, and it’s good that you brought that up because everybody else has done it with a battery in the lock and eventually that battery dies.
Barry Ritholtz: This wasn’t supposed to happen.
Bob Moser: Now it is. So, you think about it. One of our facilities in Astoria is 3,300 units… First of the month comes, if people haven’t paid, that manager has to leave the front desk, go around and double lock those units. Right now, the electronic key just magically freezes the unit. So, it reduces our labor. It gives the consumer a better product.
Barry Ritholtz: Quite quite fascinating. So, given your perspective uh and experience in all sorts of commercial real estate, 2026, there’s a lot of questions… What are you seeing in the commercial real real estate space circa 2026.
Bob Moser: It’s a good question… You know, obviously I think SOFR is going to be coming down. You know, obviously rates are being lowered. I’m hoping to see that on the 5-year Treasury as well.
Barry Ritholtz: is that your benchmark for for fees as opposed to, you know, 10 year for mortgages?
Bob Moser: Yeah. So, I look at the five year quite a bit.
Barry Ritholtz: So, uh, we’ve been hearing from various manufacturers. There’s no sort of clarity as to policy. Everybody is kind of frozen… I get the sense that’s not really an issue with your business.
Bob Moser: Going back, it’s need based real estate. People need it to no matter what the life cycle is, whatever the macro economy is, they need space for their products, goods, inventory, their personal items.
Barry Ritholtz: Really, really fascinating. Last question before we get to our favorites. So, so what do you think commercial real estate investors aren’t thinking about or talking about um but perhaps should be…
Bob Moser: I really think it’s about how to really create value in real estate real estate is not a short term investment and a lot of people look and I’m not even talking 3 to 5 years is short in real estate I remember years ago this old-timer told me that you know real estate’s boring for the first 30 years.
Barry Ritholtz: It’s it’s funny the line, real estate is boring for the first 30 years. After Sam Zell passed away, I read a biography of him and one of the things that kind of that stunned me was he owned some of his properties for for half a century 50 years forever. That’s just that’s just a unbelievable number.
Bob Moser: It’s almost like the Warren Buffett way of buying real estate. Long-term is really long term when it comes to real estate.
Barry Ritholtz: So, so let’s jump to our favorite questions that we ask all of our guests. Starting with who who were your mentors who helped shape this obsession with real estate from the earliest days and helped shape your career?
Bob Moser: I’ve had I’ve been very fortunate to have some great partners along the way. Um, from some of my like Ken Langone, founder of Home Depot, was a really close friend and mentor… but I’ve been fortunate to have some of the largest investors in the world like the late Ira Harris who was absolutely amazing and taught me a lot.
Barry Ritholtz: So, let’s talk about books. What What are you reading and what are some of your favorites.
Bob Moser: I think probably one of my favorite was Remnants of a Stock Operator [sic]. It was a great book.
Barry Ritholtz: Uh what about streaming? What are you listening to or watching? Anything keeping you entertained these days?
Bob Moser: Podcast wise, obviously besides yourself, we were all in listening to some of that on the way down. I was just listening to actually your interview with Unlang’s uh CEO, Wilhelm Schmid of A. Lange.
Barry Ritholtz: Yeah. Fascinating guy. I didn’t realize how big into cars he was. So final two questions. What sort of advice would you give to a recent college grad uh interest in the career in commercial real estate investing?
Bob Moser: I think it’s in anything. Don’t count somebody else’s money. I see a lot of younger people wondering what the other person next to them is making and concerned about that. Always do more than what you’re paid for. And you have to be enthusiastic. Enthusiasm is probably the biggest driver of success. I can think of
Barry Ritholtz: enthusiasm. That’s that’s really fascinating. And our final question, what do you know about the world of commercial real estate investing today? Would have been helpful back in the 1990s when you were first starting out.
Bob Moser: I would say it was more about managing people. I It took me a long time to learn how to manage people… and the ability to empower people. It took you know obviously it took me probably a decade and a half before I really felt comfortable doing that. Uh but yeah I think that was probably if I had done that earlier I’d probably be bigger.
Barry Ritholtz: Really really quite fascinating. Thanks Bob for being so generous with your time. We have been speaking to Bob Moser. He is the founder and CEO of Prime Group Holdings. America’s largest privately held self- storage uh investment fund. If you enjoy this conversation, well, be sure and check out any of the 592 that we’ve done over the past 12 years. You can find those at iTunes, Spotify, Bloomberg, YouTube, or wherever you get your favorite podcasts. I would be remiss if I did not thank the Crack team that helps me put these conversations together each and every week. Alexis Noriega is my video producer. Shan Russo is my head of research. Anna Luke is my podcast producer. I’m Barry Ritholtz. You’ve been listening to Masters in Business on Bloomberg Radio.
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