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Heitman Helps National in $175M Self-Storage Buy

BRISBANE, AUSTRALIA-National owns 60 sites now in the country, and the managing director said the goal is to reach 100 centers by 2014.

By Robert Carr | Updated on September 30, 2011

BRISBANE, AUSTRALIA-Locally based National Storage has entered into a partnership with Chicago-based Heitman to purchase 20 storage properties in Australia. The sites were bought for about $175 million from APN Fund Management and the Investec Property Opportunity Fund (IPOF).

The properties are located in Sydney, Melbourne, Perth, Brisbane, the Gold Coast, Sunshine Coast and Hobart, and represent 1.1 million square feet with 11,000 units. National will operate the properties under its current branding structure. The sites also include assets under the Wine Ark brand, a wine storage provider.

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