Harrison Street has entered into the European self-storage market with a focus on the United Kingdom through a newly formed joint venture with Pacific Investments, a fully diversified property and asset management group with decades of experience building real estate-related businesses.
Harrison Street and Pacific plan to develop a £150 million ($203 million) self-storage portfolio over the next three to five years targeting undersupplied locations across the United Kingdom. The joint venture is projected to be seeded with three storage assets comprising approximately 138,000 square feet of lettable space, with a strong pipeline of additional projects already identified. The assets are targeted to comprise a mixture of ground-up developments and conversion projects. The joint venture’s initial focus will be on the U.K. market, but Harrison Street plans to expand into other European markets over time.
Pacific’s majority-owned self-storage property management platfo
