The real estate secondaries arm of Ares Management is investing in Swiss Life Asset Managers’s UK self-storage platform.
Ares Management Real Estate Secondaries has entered into a partnership with Swiss Life AM and will inject capital into The Storage Team.
Swiss Life AM UK, which was previously known as Mayfair Capital before it was rebranded last year, acquired The Storage Team in 2021, including its real estate assets, intellectual property and the company brand.
The Storage Team has since been expanded to include 12 direct-let self-storage assets across England buy starting new ventures and buying established businesses.
The partnership between Ares and Swiss Life AM will seek to accelerate the growth of the platform.
Swiss Life AM said it would act as investment manager with operational services provided by its subsidiary, MC Self Storage.
James Lass, head of operational real estate at Swiss Life Asset Managers UK, said: “We are delighted to partner with Ares on the continued expansion of our UK self-storage value-add strategy. Attracting a partner of this calibre is testament to our granular approach to portfolio construction and ability to provide a fully integrated investment management, operational and development management proposition.
“With continued structural tailwinds driving both occupier and investor demand the sector is well placed to continue to deliver solid returns for investors.”
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