European convenience real estate investor Mitiska REIM is investing in German self-storage specialist HeyLager as part of a new partnership to co-invest in sites across the country.
As part of the investment, Mitiska REIM plans to scale the HeyLager platform across Germany in the coming years, through its Mitiska European Real Estate Partners 3 fund.
Established in August 2023 by Kriton Immobilien, a group of family offices, and its management team, HeyLager is a drive-up self-storage platform with six operational German sites, two under construction and three in planning.
The joint venture aims to develop an additional 15 to 20 sites in Germany over the next two years, with a plan to increase sites to 50 facilities.
Axel Despriet, co-founder and managing partner of Mitiska REIM, said: “The HeyLager team are highly experienced in drive-up storage, and offer a best-in-class next-generation platform which is entirely digitalised and facilities which are fully automated.
“We have a strong pipeline of potential new sites and look forward to working together to roll out the HeyLager concept across Germany.”
Joachim Rabe, CEO of HeyLager, said: “We are delighted to partner with Mitiska REIM, who bring a wealth of experience, a strong operating and investment platform, and an extensive track record in convenience real estate, which fits perfectly with our joint plans for HeyLager.”
Franz Wilkowski, CIO of Heylager, said: “Our strategy centers on the rapid realisation of assets. Through modular timber construction, we follow a ‘plug-and-play’ approach that allows for industrial-scale expansion and a sustainable footprint, ensuring we bring new sites online faster than ever.”
Bart Rabaey, Mitiska REIM’s CIO, said: “The European storage market holds immense untapped potential and offers a huge opportunity for growth.
“We at Mitiska REIM are looking to expand our next-generation storage portfolio across other European markets and are actively investigating opportunities and local partners in France, Spain, Portugal, the Netherlands and Poland.”
To read the latest IPE Real Assets magazine click here.
