Acquisition expands the QuadReal global self storage portfolio to over 80 assets
QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company, today announced the £280M acquisition of a 27-asset, self storage portfolio in the United Kingdom from Padlock Euro Storage Fund I (the “Fund”), as well as the establishment of a new joint venture partnership (the “JV”) with Clear Sky Capital, Inc. (“Clear Sky”), a privately owned real estate investment management and development company.
The JV will focus on the self storage market in the UK with QuadReal holding a 95% interest. Alongside the 1.2M sq. ft portfolio, the JV will commit a further £200M of equity to invest in UK self storage. Cinch Self Storage, a portfolio operating company owned by Clear Sky Capital investors, has been appointed as asset and property manager for the JV. The Fund will not have any interest in the JV or the portfolio in connection with the sale of the portfolio to the JV.
Performance driven operating platform
Furthering QuadReal’s strategy to invest in quality storage facilities in key submarkets, the UK portfolio is concentrated in the southeast and consists of new generation self storage facilities with robust security technology, EV charging capabilities, and expanding climate-controlled options.
The addition of these facilities follows QuadReal’s recent acquisition of Maple Leaf Self Storage in Canada. QuadReal’s self storage portfolio now includes over 80 assets and more than 6,300,000 sq. ft 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,” said Thomas Blangy, Senior Vice President, International Real Estate, QuadReal. “By partnering with Clear Sky and Cinch, we are securing critical mass in a sector characterised by fragmented ownership, further enhancing our global portfolio and ability to deliver stable returns.”
“We are excited to continue the Cinch Self Storage journey alongside a tier-one institutional partner such as QuadReal. Their global experience and long-term investment approach make them an ideal partner as we scale the platform and capitalise on the structural demand–supply imbalance in the UK self storage market. Together, we look forward to expanding the portfolio and delivering high-quality, risk-adjusted returns for our investors,” said Iyngaran Muniandy, Head of Europe, Clear Sky.
QuadReal’s investment strategy, global experience and local market expertise has established it as one of the top 20 real estate investors globally.
QuadReal UK Self Storage Acquisition – Frequently Asked Questions
What self storage acquisition did QuadReal Property Group complete in the UK?
QuadReal Property Group, a global leader in real estate investment, has acquired a 27-asset self storage portfolio in the United Kingdom through a strategic partnership with Clear Sky. This move significantly expands QuadReal’s footprint in the self storage market.
How does the QuadReal and Clear Sky joint venture work?
QuadReal and Clear Sky have launched a new joint venture focused on the UK self storage sector. QuadReal holds a 95% stake in this partnership, which not only includes the newly acquired portfolio but also commits an additional £200 million in equity to fuel further investment and growth in the UK self storage industry.
Who is responsible for managing QuadReal’s UK self storage assets?
Cinch Self Storage, a recognized name in the industry, has been appointed as the asset and property manager for QuadReal’s UK self storage portfolio, ensuring professional oversight and operational excellence.
Where are QuadReal’s UK self storage facilities located?
The majority of QuadReal’s newly acquired self storage facilities are strategically situated in the Southeast region of the United Kingdom, targeting high-demand submarkets.
Is this QuadReal’s first venture into self storage investments?
No, QuadReal boasts a global self storage portfolio of over 80 facilities. This UK acquisition follows the company’s recent purchase of Maple Leaf Self Storage in Canada and the expansion of its U.S. portfolio with Store Space, reinforcing QuadReal’s position as a top international investor in self storage.
