Andover Properties, Heitman Form JV to Grow Self-Storage Portfolio
The two real estate firms announced a series of joint ventures aimed at building a diversified self-storage property portfolio.
Andover Properties and Heitman have launched a series of joint ventures targeting the self-storage sector, the New York-based alternative real estate investment firm announced Oct. 7, 2026. The partnership pairs Andover's vertically integrated operational platform with Heitman's global real estate investment management capabilities.
The joint ventures are designed to build a diversified portfolio of self-storage assets through acquisitions, according to the announcement. Self-storage has emerged as one of the more resilient alternative real estate asset classes, historically demonstrating steady demand through varied economic cycles as households and businesses seek flexible space solutions.
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Andover Properties describes itself as a vertically integrated firm, meaning it controls multiple stages of the investment and operational process in-house — a structure that can offer cost efficiencies and tighter asset management. Heitman operates as a global investment manager with a broad real estate mandate, lending institutional scale and capital access to the partnership.
The collaboration reflects continued institutional appetite for self-storage, a segment that has attracted significant capital in recent years as investors seek assets with relatively low operating costs and demand that tends to hold up even during economic downturns. Joint venture structures between operators and capital partners have become a common vehicle for scaling portfolios quickly without either party bearing full balance-sheet exposure.
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