PFG Capital was formed in 1986 in response to the Tax Reform Act of 1986 which eliminated many real estate-based tax shelters. The company’s mission was to develop and syndicate financially sound real estate investments for its investor clients. A large portion of these investments included the development of tax credit affordable housing projects. In 1987, PFG Capital was one of the first companies in Pennsylvania to complete a low-income rental housing community utilizing the newly created section 42 federal tax credits. The Company gained considerable expertise in Section 42 low-income housing tax credits and Section 47 historic rehabilitation tax credits with the development of 13 affordable housing projects throughout Central Pennsylvania. In addition to affordable housing projects, PFG Capital also acquired, developed, and syndicated over 25 real estate projects including several market-rate apartments, office, retail, residential lots, and for sale housing projects during its first 15 years of existence. These projects included a large waterfront vacation housing project on the Chesapeake Bay in Cecil County, Maryland, build-to-suit retail and grocery-anchored projects, and residential housing developments.
During the company’s continued growth and pursuit towards diversification, it identified opportunities in the self storage industry with the increasing popularity and continual demand within the sector. In 2000, PFG Capital purchased its first self storage facility. The following year, the company formed All Seasons Storage Trust; a private Real Estate Investment Trust (REIT). Over the next five years, PFG Capital and All Seasons Storage acquired, expanded, and developed over 30 self storage properties across six states. In 2005, All Seasons Storage was recognized as a national top 50 self storage operator with over 1.5 million square feet of storage. Then in 2006, as prices continued to rise to historic highs, PFG Capital sold the entire 30 property portfolio.
Subsequent to the sale of All Seasons Storage, PFG Capital began looking for additional avenues to serve the self storage industry. Between 2006 and the present, the Company has acquired, developed, and sold 15 more self storage properties.
In 2011, PFG Capital identified the need for a tenant insurance program in the self-storage industry and worked to create the Storsmart Tenant Insurance Program consisting of a Barbados-domiciled captive and Property First Group, an exclusive insurance agency offering the program nationally. In 2018, the Program acquired its largest competitor, Bader Company, and sold the Program to the Storable family of companies.
While operating the tenant insurance program, PFG Capital saw a need for specialty consulting and contracting in the self storage construction space and formed Storage Construction in 2015. Storage Construction quickly became a boutique general contractor in the industry largely due to PFG Capital’s extensive knowledge and experience of development and operations. The focus is design/build partnerships that provide the best possible experience at an affordable price for its clients. To date, Storage Construction has constructed more than 4M square feet of storage space.
After a long-standing vendor relationship between PFG Capital and Storage Construction, Automated Security was acquired in 2018 as a complimentary business to Storage Construction. Automated Security provides all access control and security features utilized in facilities on a national level.
PFG Capital continually strives for diversified growth in both the real estate and business world and is constantly seeking new business and real estate opportunities.