Heitman Acquires 79-Asset Self-Storage Portfolio

Heitman announced the launch of a core plus strategy focused on self-storage assets across the United States. To date, the firm has received commitments totaling $275 million and an additional $200 million in co-investment.

In connection with the launch, Heitman has completed the acquisition of a seed portfolio comprising 79 self-storage assets across 16 states. The seed portfolio represents a diversified, large-scale acquisition totaling approximately 4.9 million rentable square feet. Through operational enhancements, the portfolio is expected to benefit from continued revenue growth, with select properties also offering approximately 550,000 square feet of expansion potential.

“We believe today represents an attractive entry point. Assets can be acquired well below replacement cost, new supply is declining, and market rents remain well below levels required to incentivize new construction,” said Jen Boss, Head of Portfolio Management at Heitman and Portfolio Manager for the strategy.