Heitman, a global real estate investment management firm with US$48 billion ($61.09 billion) in assets under management as of end 2025, first entered the Australian self-storage market in 2011. It subsequently entered the Japan, Singapore and Hong Kong self-storage markets, in that order.
The Chicago-based fund manager that sold its five-asset self-storage joint venture portfolio in Singapore to Warburg Pincus-backed StorHub in 2022 is going all in on Hong Kong.
“The living conditions [there] have the lowest per capita living space globally and — not dissimilar to Singapore — the supply of new residential units are declining in their average size,” says Brad Fu, managing director, portfolio manager and co-head of Heitman’s Asia-Pacific private equity group. “It creates a need for storage space [as] there’s more of a consumption culture.”
