Norton Rose Fulbright advises HeyLager on strategic joint venture with Mitiska REIM

Global law firm Norton Rose Fulbright has advised HeyLager, a Germany based provider of hybrid drive up self storage solutions, on the establishment of a strategic joint venture with Mitiska REIM. Mitiska REIM is an investor focused on European retail parks and convenience real estate.

The objective of the joint venture is to advance the roll out of the HeyLager platform in Germany over the coming years through the MEREP 3 fund. As part of the partnership, it is planned to develop a further 15 to 20 locations in Germany over the next two years. In a second phase, the portfolio is intended to grow to a total of 50 facilities.

HeyLager was founded in 2023 as a joint venture between Kriton Immobilien GmbH, a group of family offices, and the management team, and is headquartered in Munich and Pöcking. The company develops and operates hybrid drive up self storage facilities. These comprise a conveniently located and target group oriented combination of drive up storage units and garages, walk in indoor units, and so called business units - a combination of drive up storage and office space. HeyLager currently operates six locations in Germany; two further locations are under construction and three more are in planning. The entire process - from booking to move in - is fully digitalized and provides secure access around the clock.

Lead partner Dr. Maren Stölting (Real Estate, Munich) partner in the real estate practice commented:

"The joint venture between HeyLager and Mitiska REIM highlights the growing investor interest in innovative storage concepts in Germany. The combination of a Europe wide investor and a specialized operator with a scalable digital platform provides a solid foundation for the planned expansion. We were pleased to have advised HeyLager on this strategically important transaction."

The Norton Rose Fulbright team led by partner Dr. Maren Stölting also included partners Frank Henkel (Corporate/M&A, Munich) and Simon Weppner (Tax, Düsseldorf), as well as counsel Johannes Diez (Corporate/M&A, Munich) and Sabine Meinert (Real Estate, Munich), and senior associate Christian Klein (Tax, Frankfurt).

Mitiska REIM was advised on the transaction by Dentons (legal), PwC (tax, structuring) and Savills (commercial).