QuadReal Property Group and Store Space Self Storage have formed a joint venture to build a $1 billion portfolio of self-storage assets.
The partnership’s value-add and core-plus investment strategy was seeded with the $200 million acquisition of a 13-property portfolio totaling more than 9,000 units, or 1.1 million square feet. This portfolio includes a diverse mix of stabilized and recently developed self-storage assets in seven states. Momentum continues to build with the subsequent closing of an off-market acquisition-expansion in New Jersey, and a significant acquisition pipeline.
“The self-storage sector offers steady growth. Further, it has shown resiliency and demonstrates consistent fundamental and demographic tailwinds that align closely with QuadReal’s core investment convictions,” said Jameson Weber, QuadReal’s managing director, international real estate, Americas. “We are excited to partner with the Store Space team — an experienced self-st
