Convenience real estate investor Mitiska REIM has formed a joint venture partnership with Belgian self-storage firm Storo, with plans to roll the concept out to more European markets in due course.
Under the JV agreement, Mitiska REIM has acquired a stake in Storo’s selfstorage sites on behalf of its flagship MEREP 3 (Mitiska European Real Estate Partners 3) fund.
Financial details were not disclosed. The company has two operational sites in Belgium with a third due to open this summer. The two existing sites are located in Brecht (189 self-storage units) and Mechelen (370 units). The Roeselare site, acquired in December 2022 and scheduled to open this summer, will offer 462 self-storage units, combined with 680 squared metres of SME units and a Dockx rental vehicle office.
Mitiska REIM and Storo have developed a pipeline of additional investment opportunities, targeting the repurposing of existing buildings, such as retail showrooms, industrial buildings and offices. The initial focus will be on the Belgian market, with target cities including Antwerp, Ghent, Leuven, Brussels, Charleroi, Liege and Namur.
Source: propertyeu.info on the 13th of March