US real estate investment manager Heitman has launched Talli, a Nordic drive-up self-storage platform, following the acquisition of a majority stake in the rental operating business of Finnish developer Talliosake.

The platform launches with an initial portfolio of 15 properties, comprising 11 in Finland and four in Sweden, and a pipeline of further growth opportunities. The transaction, completed on behalf of Heitman’s European value strategy, builds on the investor’s expansion into the Nordic self-storage market through its acquisition of Swedish platform Servistore in 2024.

Talli will be led by Talliosake’s existing management team, with Talliosake retaining a minority stake in the business. Since 2010, the Finnish company has delivered more than 6,400 drive-up self-storage units across 230 properties in Finland and Sweden.

The partnership marks a shift in Talliosake’s business model, which has traditionally focused on developing and selling individual self-storage units. Talli will instead adopt a develop-to-hold strategy, developing and operating income-generating properties for long-term ownership.

Heitman and the management team plan to expand the platform across Finland and Sweden, targeting demand from both residential and business customers in what they describe as fragmented and undersupplied markets.

“Favourable market dynamics present an opportunity to build a leading Nordic drive-up self-storage platform,” said Caleb Mercer, managing director of private equity Europe at Heitman.

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
OurDomain Amsterdam Southeast living Amsterdam M&G Greystar 1,559 homes €340 The deal is one of the Netherlands’ largest living transactions in recent years.
Allianz Building office Frankfurt Values PIMCO Prime Real Estate NA €75 The off-market deal also includes the adjacent shopping arcade.
Schomberg House office London 1719 Bedreet Limited AFIAA Investment Foundation for International Real Estate Investments 37,300sqft £55.5 (€66) The building is leased to British private equity firm Permira.
Scandic Alvik hotel Stockholm SPP Fastigheter AB Pandox 330 rooms €58 (SEK644) The hotel property’s annual net operating income amounts to SEK34m.
1 Georges Square office Bristol Border to Coast Pensions Partnership Limited Weybourne Group 68,000sqft £45 (€54) The asset is fully let.
Spark building office Newcastle, UK Greenridge Investment Management Legal & General 106,000sqft £31.2 (€37.3) The fully-let Spark building was acquired on behalf of the Greenridge Opportunities (GO) vehicle.
retail portfolio retail Bohuslän, Dalsland, and Trollhättan, Sweden Cibus Coop Väst NA €36 The assets are let back to Coop Väst.
New London House office London Criterion’s Zedwell Hotels Whitbread 89,000sqft NA The building is being lined up for a 509-room Zedwell retrofit-first hotel.
Francuska Office Centre office Katowice, Poland Grupa Opal GTC 23,000m2 NA Tenants include Vattenfall, Rockwell Automation, RSM Poland, Drees & Sommer and Lux Med.
logistics asset logistics Regensburg, Germany UK-based investor GARBE Industrial 17,700m2 NA Completed in the year 2000, the logistics asset is fully leased.
logistics facility logistics Ujazd, Poland Reico Long Lease Prologis 62,500m2 NA The property is fully leased to Schaeffler, which uses it as its Eastern European Regional Distribution and Fulfilment Centre for automotive parts.

 

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
52 rue d’Anjou office Paris NA 7,554m2 €130 NA The asset is 25% occupied.
three office assets office Dublin, Kildare & Cork Fine Grain Property NA €44 Savills The largest asset is 1 Waterside at Waterside Innovation Campus in Citywest, Dublin 24, guided by Savills at €22.5m.
landbank at Abbotstown Business Park development Dublin NA 68.58 acres €32.5 Savills and CBRE Fronting the M50 motorway, the subject site is surrounded by a number of established logistics and business parks.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
Bond investors Aedifica Unsecured €500 The 6.5-year bond pays a fixed coupon of 4.50% per annum.
Patron Capital SevenCitiesLdn 123 Victoria Street in London £163 (€195) The senior whole loan comprises a £148m acquisition tranche and £15m to fund the refurbishment, representing 70% loan-to-cost and 59% loan-to-projected value.
Merseyside Pension Fund Panattoni Panattoni Wakefield 500 scheme in West Yorkshire £47.47 (€56.8) Currently under construction at Wakefield Europort, the 500,000sqft, grade-A speculative development is scheduled for practical completion in May 2027.
Atelier MCR Glasgow PBSA conversion £35.5 (€43) Structured over a 16-month term, the development facility will fund the delivery of 288 student rooms.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Heitman, Talliosake Talli Talli will pursue a develop-to-hold strategy in the Nordics, creating and operating income-producing drive-up self-storage properties for long-term ownership. The transaction establishes a platform for expansion across Finland and Sweden and builds on Heitman’s Nordic self-storage presence following its acquisition of the Servistore platform in Sweden in 2024.
Deutsche AM European Property Debt Fund II The investment strategy targets sectors including logistics, residential, student housing, and prime office. Deutsche Asset Management has held the first close of the fund, securing €120m in commitments from institutional investors.
Poste Italiane data centre fund BPF Alternative Co-Investment Investing up to €600m in data centre assets The initial project aims to deliver 20MW of capacity.

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