Global property investment firm Heitman has invested an undisclosed amount in an Irish self-storage business.
Heitman said he invested in U Store It with a plan to help expand the self-storage platform across Ireland and Northern Ireland.
U Store It has six existing sites in four cities: Dublin, Belfast, Cork and Waterford, and plans to develop two additional sites in Dublin and Belfast.
Caleb Mercer, Heitman’s Managing Director for European Property Investment, said: “We are delighted to be investing in the U Store It platform and working with their local team to continue to build a premier storage option in Ireland. and in the North. Irish markets.
“Self-storage remains an attractive real estate sector, experiencing significant demand due to the growing storage needs of individuals and businesses.”
Tony Smedley, Heitman’s Managing Director and Head of European Private Equity, said: “This is further evidence of Heitman’s long-term commitment to the European region, and in particular our extensive expertise in operational real estate. .
“This capability allows us to continue to create exciting opportunities, grow our clients’ investments and expand our reach across Europe.”
Gordon Black, Senior Managing Director and Portfolio Manager of Heitman, said: “As we execute our global investments, we continue to seek to balance our portfolio across three themes: divergence or smart diversification between traditional property types, convergence or capitalization of maturing property types, and offline or defensive, which consists of investing in assets with characteristics less linked to economic cycles, such as self-storage.
Heitman, who has been investing in self-storage since 1996, has a self-storage portfolio of over $7 billion worldwide. The company’s recent investments include the acquisition of Space Station in the UK and All Seasons in Germany.
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