Nuveen Real Estate acquires high-quality self-storage portfolio in the U.K.

Nuveen Real Estate has acquired a high-quality portfolio of self-storage properties in the United Kingdom for an undisclosed amount.

The portfolio includes four assets totaling  240,000 square feet, consisting of predominantly modern purpose-built properties, which are located across the southeast of England. The four mature, well-located properties trade into dense residential and commercial areas, benefiting from excellent connectivity to transport links and infrastructure.

Nuveen acquired the portfolio from self-storage provider Easistore and will form a joint venture with one of the United Kingdom’s major operators, Storage King. Storage King will take a minority stake in the joint venture and contribute 10 percent of the equity capital. The portfolio will be branded and managed by Storage King under its third-party management platform.

Nuveen said it will undertake a number of initiatives to enhance the self-storage portfolio, including extensions, a rec