Hines has made its debut in the European self-storage sector via the acquisition of a three-asset portfolio in the southeast of England.
The portfolio, acquired on behalf of Hines European Real Estate Partners 3 (HEREP III) from a local private family proprietor, comprises 1,449 self-storage and office units across three trading assets in Ashford, Chatham and Ebbsfleet. Hines has engaged with one of the leading self-storage operators in the United Kingdom, Storage King, on specialist management and branding for the portfolio.
This first acquisition is expected to be a springboard for HEREP III to grow its presence in the sector via further acquisition, development and repositioning opportunities. The fund is looking to aggregate a portfolio upward of £200 million (€233 million/$251 million) in value over the coming years, initially focused on the United Kingdom but broadening in due course across additional European markets.
The three acquired assets offer mo
