Andover Properties, Heitman Expand Self-Storage Ventures

Andover Properties, an alternative real estate investment firm, and Heitman, a global real estate investment management firm, have expanded their joint venture activities with recent acquisitions in the self-storage market. The partnership focuses on building a diversified portfolio of self-storage properties.

Details regarding the number of acquisitions or their specific locations were not immediately available. However, the firms stated the joint ventures are designed to acquire and manage self-storage facilities. This expansion into the self-storage sector reflects a growing trend among real estate investors seeking alternative asset classes.

Andover Properties manages its investments through a vertically integrated approach, overseeing property management and operations. Heitman, as a global manager, brings extensive experience in real estate investment strategies across various markets.

The companies have not disclosed the financial terms of the recent transactions or their future investment targets within the self-storage industry.