Mitiska REIM teams up with HeyLager to expand storage portfolio

Mitiska REIM has announced a strategic joint venture with German drive-up storage specialist HeyLager to expand its next-generation storage portfolio.

Mitiska REIM – Heylager drive-up storage

Through this partnership, Mitiska REIM has invested in HeyLager on behalf of its MEREP 3 fund, with plans for significant expansion of the HeyLager platform across Germany in the coming years.

HeyLager, established in August 2023 through a joint venture with Kriton Immobilien GmbH, family offices, and its management team, currently operates six drive-up self-storage sites in Germany, with two under construction and three in planning. The joint venture aims to develop an additional 15-20 sites in Germany over the next two years, with a long-term goal of reaching 50 facilities.

HeyLager's hybrid drive-up self-storage facilities offer a range of options, including drive-up units and garages (21-56 m² NLA), walk-in indoor units (3-14 m²), and SME units (up to 125 m²) that combine storage with office space.

The customer experience is fully digitalised, from booking and access to onboarding and asset management, providing secure 24/7 access. Located on urban arterial roads, the sites are sustainably constructed using hybrid timber, enabling rapid development and rollout.

This new joint venture builds on Mitiska REIM's existing partnership with Belgium-based self-storage operator Storo, which has been rolling out its next-generation concept across the Belgian market for the past three years. Storo focuses on urban indoor self-storage with smaller unit sizes and is pursuing both new developments and building conversions. This partnership is expected to have eight Storo sites operational by year-end, with a further pipeline of secured assets.

Axel Despriet, co-founder and managing partner of Mitiska REIM, commented: “The HeyLager team are highly experienced in drive-up storage, and offers a best-in-class next-generation platform which is entirely digitalised 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, stated: “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 centres on the rapid realisation 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.”

Bart Rabaey, Mitiska REIM’s Chief Investment Strategy Officer, added: “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.”

Mitiska REIM was advised by Dentons, PWC and Savills, while HeyLager was advised by Norton Rose Fulbright.