Mitiska REIM expands next-generation storage portfolio with HeyLager joint venture

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the expansion of its next-generation storage portfolio through a strategic joint venture partnership with HeyLager, a Germany-based specialist in drive-up storage.

As part of the joint venture, Mitiska REIM has invested in HeyLager, with the plan, on behalf of the MEREP 3 fund, to substantially expand the roll out of the innovative HeyLager platform across Germany in the coming years.

Founded in August 2023 through a JV between Kriton Immobilien GmbH, a group of Family  Offices and the management team and with offices in Pöcking and Munich, HeyLager is a drive-up self storage platform which to date has 6 operational sites in Germany, another 2 under construction and 3 in planning. Under the joint venture, the plan is to develop a further 15-20 sites in Germany over the next two years, with a second phase plan to increase this to 50 facilities.

HeyLager develops and operates hybrid drive-up self storage facilities which offer customers a combination of drive-up storage units and garages with a net leasable area (NLA) of 21-56 m², walk-in indoor units ranging from 3-14 m², and SME units up to 125 m² which provide drive-up storage-office combinations.

The entire customer journey, from booking and access to onboarding, and the management and control of assets, is digitalized end-to-end and offers secure 24/7 access. This provides a premium customer experience while maintaining low operating overheads. Conveniently located on urban arterial roads, the sites are sustainably built using hybrid timber construction, allowing for short build times and a rapid rollout of new locations.

Axel Despriet, co-founder and Managing Partner of Mitiska REIM, comments: “The HeyLager team are highly experienced in drive-up storage, and offer a best-in-class next-generation platform which is entirely digitalized and facilities which are fully automated. We have a strong pipeline of potential new sites and look forward to working together to roll out the HeyLager concept across Germany.”

Joachim Rabe, CEO of HeyLager, says: “We are delighted to partner with Mitiska REIM, who bring a wealth of experience, a strong operating and investment platform and an extensive track record in convenience real estate, which fits perfectly with our joint plans for HeyLager.”

Franz Wilkowski, CIO of Heylager, says: “Our strategy centers on the rapid realization of assets. Through modular timber construction, we follow a ‘plug-and-play’ approach that allows for industrial-scale expansion and a sustainable footprint, ensuring we bring new sites online faster than ever.”

In addition to this latest joint venture, Mitiska REIM has been working in partnership with Belgium-based self storage operator Storo over the past three years to roll out Storo’s next-generation concept across the Belgian market. Storo focuses mainly on indoor self storage in urban locations, which have smaller average unit sizes compared to drive-up storage, and is pursuing both ground-up developments and conversions of existing buildings. This joint venture will see 8 Storo sites operational by the end of this year, with a further pipeline of secured assets.

Bart Rabaey, Mitiska REIM’s Chief Investment Strategy Officer, adds: “The European storage market holds immense untapped potential and offers a huge opportunity for growth. We at Mitiska REIM are looking to expand our next-generation storage portfolio across other European markets, and are actively investigating opportunities and local partners in France, Spain, Portugal, the Netherlands and Poland.”