Andover Properties and Heitman have formed joint ventures to build a national self-storage portfolio, launching with more than 106 properties across 16 states. The partnership will pursue value-add and core-plus investment strategies, with both firms characterizing current market pricing as an opportunity to acquire assets below replacement cost. Additional market expansion is planned.
The transaction is among the larger institutional self-storage platform formations disclosed during the current period of reduced new supply and post-pandemic demand normalization.
Source: Yahoo Finance
