Andover Properties, Heitman Form Joint Ventures to Grow Self-Storage Portfolio
The two real estate firms announced a series of joint ventures aimed at expanding a diversified self-storage property portfolio.
Andover Properties and Heitman have entered into a series of joint ventures targeting growth in the self-storage sector, the New York-based alternative real estate investment firm announced Wednesday. The partnership brings together Andover's vertically integrated operating platform and Heitman's global real estate investment management capabilities.
The collaboration is designed to build a diversified portfolio of self-storage assets, a segment of commercial real estate that has drawn sustained institutional interest in recent years due to its relatively recession-resistant demand characteristics and lower capital expenditure requirements compared with other property types.
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Andover Properties describes itself as a vertically integrated firm, meaning it manages acquisitions, operations, and asset management under one roof — a structure that can give joint venture partners tighter operational oversight across a growing portfolio. Heitman, for its part, brings a global institutional investor network that can accelerate capital deployment into targeted markets.
The announcement did not disclose specific transaction values, the number of facilities acquired, or the geographic markets targeted under the venture. Further details on portfolio composition and investment scale were not immediately available in the release.
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