UK real estate investment manager Mayfair Capital markets its entry into the self-storage market with the acquisition of a portfolio of assets from The Storage Team.
The manager has paid an undisclosed amount to acquire up to eight assets from the North West of England-based self-storage company. The portfolio will focus on the North, Midlands and East of England.
Mayfair Capital said it has acquired The Storage Team’s real estate, intellectual property and company brand, as well as ”forge a joint venture with its management to assemble a portfolio of scale”.
James Lass, the head of special transactions at Mayfair Capital Investment Management, said: “This acquisition provides a scalable platform in a supply-constrained sector of the market where the underlying growth is linked to structural change rather than short term economic factors.
“With a pipeline of additional assets in place, we look forward to expanding the portfolio in the near future.”
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