Swiss Life Asset Managers UK is partnering with Ares Management Real Estate Secondaries funds to accelerate growth of the Storage Team self-storage platform, a portfolio centred on underserved locations in the UK.
Swiss Life Asset Managers UK has successfully partnered with Ares Management Real Estate Secondaries funds (“Ares”) to inject capital into The Storage Team.
This direct-let self-storage portfolio comprises of twelve assets clustered around underserved regional locations across England.
Swiss Life Asset Managers UK will act as investment manager with operational services provided by its subsidiary, MC Self Storage.
As part of the partnership, equity will be made available to facilitate the growth of the self-storage value-add strategy to benefit from strong underlying occupier demand for this sector, the companies said in a statement.
With an initial focus on the northwest and east of England, the portfolio has been created through a combination of new development and the acquisition of existing businesses.
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.'
