Andover Properties, a vertically integrated alternative real estate investment firm, announced a series of joint ventures with Heitman, a global real estate investment management firm, to grow a diversified portfolio of self-storage assets across the United States.
The joint ventures, launched with a portfolio of more than 106 self-storage properties across 16 states, span both value-add and core-plus strategies and reinforce both firms’ conviction in the self-storage sector. Andover and Heitman expect to expand the portfolio across markets throughout the United States.
The relationship comes at what Andover and Heitman believe is an attractive point in the self-storage cycle, where current market conditions are creating compelling opportunities to acquire high-quality assets at discounted valuations that will help build long-term value.
“We are excited to partner with Heitman, whose experience in self-storage investing dates back to 1996,” said Brian Cohe
