Heitman makes investment into Ireland’s largest self-storage business

An affiliate of Heitman has made a strategic investment into U-Store-It, Ireland’s leading self-storage platform.

The portfolio includes six best-in-class self-storage facilities occupying prime locations, adjacent to major arterial routes across the Republic of Ireland and Northern Ireland. Plans already are in place for two new flagship developments in Dublin and Belfast.

“Over the last 24 months CBRE has heavily expanded its self-storage team, as well as the range of services offered to support clients across Europe in this sector,” said Oliver Close, senior director, self-storage, operational real estate at CBRE. “It is a pleasure to have advised on this extremely significant deal. Over the next year, we expect to see increasing operator consolidation as well as new institutional entrants to the market.”

Christian Judd, director, corporate finance, Ireland at CBRE, added, “This is a benchmark self-storage transaction which has demonstrated substa