Global real estate firm QuadReal Property Group has committed to a $1 billion investment partnership with self-storage operator Store Space Self Storage. 

QuadReal will commit the majority of the capital for the partnership, the companies said in a joint statement. The partners' value-add and core-plus investment strategy was seeded with the $200 million acquisition of a 13-property, 1.1 million square foot portfolio including both stabilized and recently developed self-storage assets in seven states.  The partnership has a "significant acquisition pipeline" in place and also recently closed an off-market deal in New Jersey.

"The self-storage sector offers steady growth. Further, it has shown resiliency and demonstrates consistent fundamental and demographic tailwinds that align closely with QuadReal's core investment convictions," said QuadReal's Jameson Weber, Managing Director, International Real Estate, Americas, in prepared remarks.