Schroder hands self-storage keys to Flexiss
Schroder has picked Flexiss as asset manager for its 230,000 sq ft self-storage portfolio.
Schroder UK Real Estate Fund has instructed the industry storage specialist to manage its portfolio of five assets around London.
SREF bought the Self Storage Company brand and its portfolio in 2017, becoming one of the first funds to enter the alternative class.
Schroder has picked Flexiss as asset manager for its 230,000 sq ft self-storage portfolio.
Schroder UK Real Estate Fund has instructed the industry storage specialist to manage its portfolio of five assets around London.
SREF bought the Self Storage Company brand and its portfolio in 2017, becoming one of the first funds to enter the alternative class.
The agreement will extend Flexiss’s management to 15 sites, with a collective area of more than 750,000 sq ft. It also has a planning and construction pipeline likely to extend this further.
Jessica Berney, fund manager for SREF at Schroders Capital, said: “We maintain that this sub-market has further growth prospects ahead and want to ensure our Self Storage Company portfolio is in the best position to capitalise, just as we continue to consider opportunities to grow our exposure to self-storage as a fund.”
She added that Flexiss’s “second-to-none” technological capabilities will enhance the portfolio, allowing it to maximise opportunities for the fund and its investors.
Flexiss chief executive Mike Wilson said: “With decades of experience in this sector, having developed and consulted on more than 100 self-storage facilities across Europe, we are confident we can further enhance SREF’s self-storage portfolio.”
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