GuardeAqui Announces New Partner in Brazilian Self-Storage: Ranger Fund Joins Morgan Stanley Alternative Investment Partners
GuardeAqui, the Brazilian self-storage owner/operator, announced today that Ranger Co-Investment Fund III has taken a stake in the partnership established earlier this year with Morgan Stanley Alternative Investment Partners to help grow GuardeAqui’s operating platform. The expanded partnership builds on the 2011 investment in the Company by Equity International, the Chicago-based institutional investment firm led by Sam Zell and Tom Heneghan.
“We are very pleased to partner with GuardeAqui’s impressive operating team, led by their CEO, Allan Paiotti. We are equally confident in Equity International’s experience as an active shareholder of several other real estate companies in Brazil and their identification and execution of this untapped sector in such a large economy,” said Dan Witte, managing director of LaSalle Investment Management, which invests on behalf of the Ranger Funds. Ranger Fund III is part of the Ranger Fund Series, representing capital from the Teacher Retirement System of Texas (TRS) managed by LaSalle Investment Management. The Ranger Funds invest in real estate opportunities globally.
GuardeAqui is a leading self-storage operator in Brazil with an established, institutional-quality platform serving business and residential customers. The Company’s current portfolio includes nearly 60,000 square meters (approximately 645,835 square feet) of leasable space comprising ten assets: seven operating properties in S~ao Paulo, Rio de Janeiro, Belo Horizonte, Campinas and Ribeir~ao Preto, and three properties under development in the S~ao Paulo metropolitan area.
In February 2014, GuardeAqui announced a partnership with Morgan Stanley Alternative Investment Partners to expand GuardeAqui’s self-storage portfolio, which has already enabled the Company to acquire, retrofit and develop assets in the greater S~ao Paulo area and Rio de Janeiro. The investment from Ranger will allow GuardeAqui to continue with its growth strategy.
The self-storage sector in Brazil is currently characterized by growing demand and product awareness, yet limited competition consisting largely of single-store operators with mixed-quality properties and insufficient capital for meaningful growth. There are approximately 90 facilities in all of Brazil, most of which are concentrated in S~ao Paulo. By contrast, there are approximately 50,000 self-storage facilities in the United States today.
GuardeAqui is a leader in the nascent yet compelling Brazilian self-storage industry, with a recognized brand and demonstrated capabilities as a developer and operator, positioning it well to capitalize on the long-term opportunity to supply the growing unmet demand for storage.
“LaSalle Investment Management and TRS are distinguished for their active global investment approach,” said Allan Paiotti, CEO of GuardeAqui. “We are delighted to welcome them as a partner and, together with Morgan Stanley Alternative Investment Partners and Equity International, we will continue to execute on our pipeline and expand GuardeAqui’s footprint in Brazil.”
GuardeAqui is the leading self-storage operator in Brazil, providing temporary and long-term storage solutions to commercial and residential customers. With nearly 60,000 square meters of leasable space, all of GuardeAqui’s facilities are well-located and built to the highest of international standards with excellent security, drive-through access, loading docks, information systems and customer support. The Company currently has properties operating and/or under development in S~ao Paulo, Rio de Janeiro, Belo Horizonte, Campinas, Ribeir~ao Preto, Jundia’i and Guarulhos, with plans for additional expansion across Brazil. For more information, please visit www.guardeaqui.com.
About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE:JLL) and advisor to Jones Lang LaSalle Income Property Trust, is a leading global real estate investment manager, with approximately $53 billion of assets under management of private and public property equity investments. LaSalle is active across a range of real estate capital and operating markets including private and public, debt and equity and its clients include public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit www.lasalle.com.
About Morgan Stanley Alternative Investment Partners
Morgan Stanley Alternative Investment Partners, part of Morgan Stanley Investment Management, specializes in assisting institutional and high net worth investors achieve their goals through the design and management of alternative investment programs. AIP investment teams have broad expertise in fund investing, secondaries and co-investing across hedge fund, private equity, real estate and multi-asset class. Solutions include custom alternative investment portfolios, completion strategies, diversified and opportunistic multi-manager strategies. Established in 2000, AIP currently has approximately $36.4 billion in assets under management and advisement.
About Equity International
Equity International (EI) invests in leading companies outside the United States with a focus on high-growth and opportunistic investments across various real estate sectors. Founded in 1999 by Sam Zell, EI is recognized as a leading international investor and partner of choice, distinguished by an outstanding reputation, global capability and industry-leading portfolio companies. EI has raised over $2 billion and invested in 26 portfolio companies to-date across 15 countries, with a presence in the most compelling emerging markets. For more information, please visit www.equityinternational.com.
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