Hearthfire Holdings Expands Tampa Bay Expansion with Hudson, FL Acquisition of Property

Company Targets Underserved Segment through Expansion, Proximity, and Demographic Advantage
PHILADELPHIA, PA - September 16th, 2025 - Hearthfire Holdings [https://hfirecapital.com/], an institutional-quality real estate investment firm that invests in self-storage properties, today announced that it has acquired a strategically located facility in Hudson, Florida, as part of its expanding activity within high-growth markets across the United States.

The building located at 10522 State Road 52 in Hudson has a total of 38,387 rentable square feet in 301 units, and is served by an additional 181 uncovered parking spaces. Built in 1998 and well-maintained by the owner, the complex comprises seven buildings - one of which is a two-story building with an installed elevator - and is currently 69% occupied.

"This purchase represents everything we look for in a deal: solid demographics, low competition, and significant upside potential," says Sergio Altomare [https://www.linkedin.com/in/sergio-altomare-7823294/], Hearthfire Holdings CEO. "Hudson is located in the thriving Tampa Bay market, where demand for climate and non-climate storage is still higher than supply. We see significant opportunity here not only to optimize operations, but to expand and reposition this asset to drive long-term value."

Market Opportunity

The Hudson location is situated in a prime location, with over 42,000 individuals within a 3-mile radius and a median household income of $60,000. Market supply is merely 4.95 square feet per capita, significantly below equilibrium.

Business Plan

Hearthfire will maintain the property under the CubeSmart flag and follow a value-add strategy by:

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Rent Growth: Turning rates towards market averages through aggressive revenue management.

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Expansion: Adding 29,800 net rentable square feet, or approximately 286 new units, leveraging the property's 9-acre site.

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Conversion Opportunity: Utilizing and reusing existing car wash bays as extra storage units to create additional leasable space.

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Operational Improvements: $100,000 will be used for signage and cosmetic upgrades, and CubeSmart will provide professional management to maximize performance.

With CubeSmart's national marketing platform, combined with the property's desirable location on a busy road (39,000+ vehicles per day) and proximity to multi-family properties, the property is poised to achieve its targeted occupancy rate of 92%, including expansion space, within three years.

Strategic Fit

In line with Hearthfire's overall portfolio strategy, the Hudson acquisition establishes Hearthfire's presence in the Tampa Bay market, a top 20 U.S. market that continues to see strong institutional demand for storage assets. The property presents long-term optionality - either as a standalone high-value disposition or as part of a larger bundled portfolio disposition.

"With limited new supply, strong rent growth potential, and scalable expansion options, Hudson fits squarely within our disciplined four-pillar investment approach," added Altomare. "It's an exciting addition to our portfolio, and we're confident in its ability to deliver attractive returns for our investors."

Acknowledgments

Hearthfire Holdings would like to extend its gratitude to Aaron Sanchez & team from Skyview Advisors, Santiago Prieto from Terral, our CFO Mike Marron, and members of our acquisitions team: Jeff White, Director of Acquisitions and Portfolio Management; Brad Rafuse, Senior Acquisitions Analyst; and Benjamin Consigli, Portfolio & Acquisitions Analyst. Their contributions were instrumental in completing this acquisition.

Please contact investors@hfireholdings.com for additional information. All media inquiries and interview requests should be directed to Thomas Mustac, Senior Publicist at Otter PR, at thomas.mustac@otterpr.com [mailto: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.

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