Heitman expands European self-storage portfolio with Swedish acquisition

Heitman LLC, a global real estate investment management firm, has strengthened its presence in the European self-storage market by acquiring a majority stake in Servistore, Sweden’s third-largest self-storage operator. The deal, completed in February 2025, is part of Heitman’s broader strategy to expand its portfolio in the sector.

Servistore currently operates 31 self-storage facilities across 14 cities in Sweden, with 25 locations already open and six more set to launch soon. The company’s network includes more than 4,000 storage units, covering approximately 330,000 square feet.

This latest acquisition aligns with Heitman’s continued investment in self-storage, a sector that has seen growing demand across Europe. The firm has previously expanded in Ireland (2022), Germany (2021), and the United Kingdom (2020). Heitman has been active in self-storage investments since 1996 and currently manages more than 600 self-storage assets globally, with a combined value of approximately $7.8 billion.

A key aspect of Servistore’s operations is its technology-driven model, with facilities running on an unmanned basis. Heitman plans to scale this approach in Sweden by integrating advanced revenue management software and expanding ancillary services such as storage insurance offerings.

Tony Smedley, Managing Director and Head of European Private Equity at Heitman, highlighted the firm’s extensive experience in self-storage, which has allowed it to secure off-market acquisitions in Europe. Caleb Mercer, Managing Director of European real estate investments at Heitman, pointed to Sweden’s strong market fundamentals—driven by population growth, urbanization, and increased household mobility—as key factors in the decision to invest.

This acquisition reinforces Heitman’s commitment to expanding its footprint in the European self-storage sector, positioning Servistore for further growth under its new ownership.

Photo: Tony Smedley, Managing Director and Head of European Private Equity at Heitman