QuadReal Property Group has acquired a 27-asset self-storage portfolio in the United Kingdom from the Padlock Euro Storage Fund I, in a joint venture with Clear Sky Capital for £280 million (€322 million).
QuadReal now holds a 95 percent interest in the portfolio, while Cinch Self Storage, an operating company owned by Clear Sky Capital, will act as the asset and property manager for the joint venture. The portfolio's assets are concentrated in the South East of the country, and consist of new-generation self-storage facilities that have robust security technology, EV charging capabilities and climate-control options. The joint venture follows QuadReal’s recent acquisition of Maple Leaf Self Storage in Canada. QuadReal’s self-storage portfolio now includes more than 80 assets globally.
“Self-storage is a key area of conviction for QuadReal, and this transaction expands our presence in the UK market, where demand for quality storage facilities continues to grow
