Dublin and London – 25 July, 2022 - An affiliate of Heitman has made a strategic investment into U-Store-It, Ireland’s leading self-storage platform.
The portfolio includes six best-in-class self-storage facilities occupying prime locations, adjacent to major arterial routes across the Republic of Ireland and Northern Ireland. There are also plans already in place for two new flagship developments in Dublin and Belfast.
Oliver Close, Senior Director, Self-Storage, Operational Real Estate at CBRE said: “Over the last 24 months CBRE has heavily expanded its self-storage team, as well as the range of services offered to support clients across Europe in this sector. It is a pleasure to have advised on this extremely significant deal. Over the next year, we expect to see increasing operator consolidation as well as new institutional entrants to the market.”
Christian Judd, Director, Corporate Finance, Ireland at CBRE added: “This is a benchmark self-storage transaction which has demonstrated substantial investor appetite for an exceptional business. The demand from the strongly performing Irish economy provides excellent growth prospects for the self-storage sector.”
Global real estate advisor, CBRE, advised the owners of the business alongside Grant Thornton.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com