Real assets investment manager Harrison Street has entered the European self-storage market through a UK joint venture with Pacific Investments, seeded with three assets.
The partnership holds a 138,000 square feet seed portfolio and intends to develop a £150 million (€178 million) portfolio over the next three to five years, targeting undersupplied locations across the country.
Pacific Investments’ majority-owned self-storage property management platform, Engage Management Services, will operate the assets under the Here Self Storage brand.
The joint venture’s initial focus will be on the UK market, with Harrison Street aiming to expand into other European markets over time. Harrison Street already has experience in North America where it has invested around $3.7 billion and developed over 322 self-storage assets across the US and Canada.
Source: realassets.ipe.com on the 23rd of June