Storage Investments Australia Raises $40M for Self-Storage Expansion, Aims for $1B in Assets

Storage Investments Australia Pty. Ltd. (SIA), a self-storage investing firm, has raised $40 million to further expand its industry footprint. The new fund was launched in June as part of the company’s strategy to reach $1 billion in assets and a potentially launch an initial public offering, according to sources.

This is SIA’s fifth fund, which will have an initial emphasis on acquiring four new assets in key Eastern seaboard markets. With $100 million of equity deployed to date, company officials said its established funds will have approximately $500 million worth of similar assets under management upon maturity, a source reported.

“It’s a unique and exclusive opportunity to capitalize on the self-storage sector’s attractive market fundamentals, including significant and growing long-term demand, stable income streams and proven resilience over the long term,” said Con Tragakis, chairman and cofounder. “At maturity, we aim to manage over a billion dollars in asset value, and Fund No. 5. represents a unique opportunity to become part of that growth journey.”

Headquartered in Adelaide, Australia, SIA is amassing a portfolio of new, institutional-grade self-storage facilities that enhance the customer experience, according to its website. Its focus is on creating a geographically diversified portfolio across key growth markets in the country. The company currently operates 18 facilities in New South Wales, Queensland, South Australia, Victoria and Western Australia, with four more under development. In 2023, the company launched its own management brand and platform called Roomia Self Storage.

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Sources:
Business News Australia, Roomia Owner Storage Investments Australia Targets $40m For Fifth Fund
Gold Coast Bulletin, Fund Manager’s $1BN Storage Ambition
Storage Investments Australia, Company Website