Heitman LLC, a leading global real estate investment firm, has entered Sweden’s booming self-storage market by acquiring a majority stake in Servistore, the country’s third-largest self-storage provider. Announced on February 24, 2025, this strategic move strengthens Heitman’s presence in Europe’s rapidly growing self-storage sector.
About Servistore
Servistore operates 31 self-storage facilities across 14 cities in Sweden, managing over 4,000 units and approximately 330,000 square feet of space. Currently, 25 facilities are operational, with six more set to open soon. Known for its technology-driven model, Servistore optimizes efficiency and enhances customer experience through unmanned, automated facilities.
Heitman’s European Expansion Strategy
This acquisition aligns with Heitman’s broader European investment strategy, following successful self-storage investments in:
- Ireland (2022)
- Germany (2021)
- United Kingdom (2020)
Heitman’s global self-storage portfolio now includes over 600 properties valued at approximately $7.8 billion.
Expert Insights
Tony Smedley, Managing Director & Head of European Private Equity at Heitman, emphasized the strategic significance of this acquisition:
“With nearly three decades of global self-storage investment experience, we’re leveraging our expertise to unlock unique opportunities across Europe.”
Future Growth & Market Potential
Heitman plans to enhance Servistore’s market position by implementing advanced revenue management systems and expanding value-added services, such as self-storage insurance.
Caleb Mercer, Managing Director of European Real Estate Investments at Heitman, highlighted Sweden’s strong market potential:
“Sweden’s self-storage sector is poised for growth, driven by urbanization, household mobility, and demographic expansion. We’re committed to positioning Servistore as the market leader.”
Self-Storage Market Trends
Although financial terms of the acquisition remain undisclosed, recent transactions highlight the sector’s momentum, including:
- Nuveen’s €330M acquisition of SSG (Norway, 2023)
- Shurgard’s £378M acquisition of Lok’nStore (UK, 2024)
By entering Sweden’s self-storage market, Heitman taps into strong demographic trends and increasing demand for tech-enabled storage solutions—further solidifying its position as a key player in the European self-storage industry.
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