CRITERION GROUP ANNOUNCES $45.3 MILLION OF INDUSTRIAL OUTDOOR STORAGE ACQUISITIONS ACROSS SIX STATES

Company Expands One of the Country's Most Sizeable Industrial Portfolios, Adding More Than 150 Acres in Eight Separate Acquisitions

$550 Million Portfolio Currently Spans 677 Acres Over 50 IOS Properties in 13 States

NEW YORK, June 14, 2022 /PRNewswire/ -- Criterion Group, a New York City-based investor and developer with 20 years of experience building across multiple asset types, including industrial, multifamily, film studios and self-storage, today announced the acquisition of eight industrial outdoor storage (IOS) properties totaling 151 acres for an aggregate purchase price of $45.3 million. With these acquisitions, Criterion Group's extensive IOS portfolio expands to 13 states and for the first time includes investments in Virginia and North Carolina.

The company's latest IOS acquisitions include:

• A 57-acre site located at 3340 W. Norfolk Road, Portsmouth, Virginia.
• A 23-acre site located at 1593 Jessie Street and a 9.5-acre site located at 139 Eastport Road both in Jacksonville, Florida.
• A 16-acre site located at 8300 Moores Chapel Road in Charlotte and a 10.38-acre site located at 1891 Jenkins Dairy Road in Gastonia, North Carolina.
• A 15-acre site located at 101 Brookside Lane in East Hartford, Connecticut.
• A 10.38-acre site located at 4600 & 4700 Highway 73 in Port Arthur, Texas.
• A 10.11-acre site located at 1286 Milledge Street in East Point, Georgia.

"We're pleased to grow our portfolio of IOS properties with these acquisitions, which mark our first investments in Virginia and North Carolina and increase our presence to include 13 states with assets under ownership," said Shibber Khan, Principal of Criterion Group. "Adding more than 150 acres of IOS properties in six prime markets across the U.S. within roughly 90 days is indicative of the firm's momentum and our ability to rapidly identify and execute on strategic investment opportunities within the industrial space."

Criterion Group recently formed a joint venture (JV) with Columbia Pacific Advisors for the purpose of expanding its IOS portfolio throughout the U.S. by deploying an additional $2 billion in capital by the end of 2023.

Criterion's national portfolio of IOS properties brings to market more than 677 acres of land that will be utilized as industrial outdoor storage, including equipment yards, fleet storage, and logistics support services. Criterion's $550 million IOS portfolio currently includes over 50 properties in 13 states.

As America's industrial economic activity has shifted from manufacturing to heavily focused logistics and distribution, Criterion Group has been at the forefront of investment in the industrial asset class. With a "boots on the ground" business style, the firm continues to build upon its successful track record, attacking the scarcity of available, properly-zoned, and advantageously located land nationwide.

ABOUT CRITERION GROUP
With beginnings in the multifamily residential sector of western Queens, NY, Criterion Group LLC has built a capacity for scale and a diversity of asset types. Today, the Criterion portfolio spans apartment buildings, self-storage facilities, film studios, warehousing, industrial yards and truck parking facilities throughout the continental United States. Since 2002, Criterion has grown deliberately and organically with an eye for overlooked value. Often, the perceived undesirability of locations, asset types and financing constraints enables the team to identify and capitalize on opportunities in their infancy.  As a result, Criterion's decisions have been predictive of institutional capital prior to saturation and overpricing of assets. For more information, please visit www.criteriongroup.com.

SOURCE Criterion Group