Winter Garden, FL-based Store Space Self Storage and Vancouver-based QuadReal Property Group have formed a strategic partnership that is capitalized to build a $1-billion portfolio of self storage assets. The companies share a long-term strategy focused on scaling a nationally diversified portfolio of institutional-quality self storage assets across the US in locations with strong demographic and migration trends.
The self storage sector offers steady growth. Further, it has shown resiliency and demonstrates consistent fundamental and demographic tailwinds that align closely with QuadReal’s core investment convictions.”
The partnership’s value-add and core-plus investment strategy was seeded with the $200-million acquisition of a 13-property portfolio totaling over 9,000 units, or 1.1 million square feet. This portfolio includes a mix of stabilized and recently developed self storage assets in seven states. Momentum continues to build with the subsequent closing of an off-market acquisition-expansion in NJ and an acquisition pipeline.
“The self storage sector offers steady growth. Further, it has shown resiliency and demonstrates consistent fundamental and demographic tailwinds that align closely with QuadReal’s core investment convictions,” said QuadReal’s Jameson Weber, managing director, international real estate, Americas.
