March 15, 2023

1 Min Read
Mitiska REIM Forms Strategic Partnership With Storo to Expand Self-Storage Portfolio

Mitiska REIM, a Belgium-based real estate investment firm, has formed a strategic partnership with Belgium self-storage operator Storo by acquiring a stake in its automated platform. The joint venture intends to expand Storo’s footprint locally before growing the portfolio across Europe, according to a press release.

Launched in 2019, Storo uses a fully automated operating model. It operates a 1,040-square-meter location in Brecht and a 2,000-square-meter site in Mechelen. A third self-storage project in Roeselare is scheduled to open this summer. It’ll comprise 3,580 square meters of rentable space in 462 units and specialized space targeted at small and mid-size businesses, the release stated.

The partnership has an initial pipeline of potential investment properties in the Belgian cities of Antwerp, Brussels, Charleroi, Ghent, Leuven, Liege and Namur. It’ll target existing structures with an opportunity for self-storage conversion including industrial buildings, offices and retail showrooms, according to the release.

“We are delighted to partner with Storo to roll out their innovative self-storage concept across Belgium and beyond,” said Bart Rabaey, chief investment strategy officer for Mitiska. “Self-storage fits seamlessly into Mitiska REIM’s convenience real estate strategy, which targets visible and accessible sites on urban-infill locations.”

“We look forward to working in partnership with the Mitiska REIM team,” said Lennert De bruyn, co-founder and managing director of Storo. “Mitiska REIM’s network and experience in real estate finance and strategy, combined with Storo’s customer-focused offering, creates a powerful combination to grow and expand the Storo concept.”

Mitiska specializes in value-added “convenience real estate” investments including light-industrial projects, retail parks and urban logistics. In the past 10 years, it’s raised four funds and built a portfolio of 91 properties across 10 European countries that comprises about 1.1 million rentable square meters, the release stated.

Subscribe to Our Weekly Newsletter
ISS is the most comprehensive source for self-storage news, feature stories, videos and more.

You May Also Like