QuadReal Property, Store Space Self Storage Ink $1B Partnership

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.