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Sign in Sign up for a FREE subscriptionMoorfield Group and Stor-Age form €111m U.K. self-storage JV
Moorfield Group, a U.K.-focused real estate fund manager, has entered into a joint venture with Stor-Age, a South African self-storage REIT and owner of leading U.K. self-storage business Storage King. The joint venture aims to build an initial £50 million to £100 million (€55 million to €111 million/$66 million to $131 million) portfolio of modern, tech-enabled, high-profile self-storage assets in the United Kingdom.
Moorfield will be the majority investor, on behalf of its Moorfield Real Estate Fund IV. The joint venture aims to develop self-storage assets with a focus on London and the South East. The portfolio will benefit from being operated under the Storage King brand, which currently trades from a platform of 28 stores, providing over 1 million square feet of high-quality storage space across the United Kingdom.
The joint venture is in advanced discussions on a number of acquisitions, leveraging Storage King’s established relationships and industry expe
