Heitman has $43 billion in assets under management
October 14, 2020: Heitman LLC has acquired 10 Space Station Self Storage facilities in England. The off-market transaction was made on behalf of Sunsuper, an Australia-based superannuation fund. The company intends to increase its portfolio through acquisitions and site expansions, according to a press release, according to a press release.
“We are pleased to add the Space Station platform to our portfolio of self-storage assets. There is significant opportunity within Europe to add value to self-storage portfolios as the sector continues to mature across the region.” Said by Caleb Mercer, managing director of European real estate investment for Heitman.
Heitman is an investor in self-storage since 1996, thereafter pursuing joint-venture partnerships with large, established operators. It once owned a majority stake in Shurgard, Europe’s largest self-storage brand. In 2018, the company acquired a 75 percent interest in 112 Simply Self Storage properties through a joint-venture with National Storage Affiliates Trust, a U.S.-based real estate investment trust. Heitman currently manages more than $5 billion in self-storage assets worldwide, the release stated.
“Heitman has a global track record investing in self-storage, beginning with the sector’s infancy in the U.S. and continuing through to its institutionalization. European self-storage is now at a similar stage to the early inclusion of U.S. self-storage in institutional portfolios. Investors stand to benefit from the growth of the sector in this region and through the implementation of value-creation strategies.” Said by Tony Smedley, Heitman’s managing director and head of European private equity.
Space Station founded in 1983 by Alastair Caldwell. The company operates seven facilities in London and one each in Birmingham, Slough and Uxbridge, England. It also provides free moving services for new tenants.
Heitman LLC founded in 1966. It has $43 billion in assets under management, according to the release. Its real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies.