GuardeAqui,
the Brazilian self-storage owner/operator, announced today a joint
venture with Morgan
Stanley Alternative Investment Partners to advance the growth of
GuardeAqui’s operating platform. Morgan Stanley Alternative Investment
Partners joins GuardeAqui’s current partner, Equity
International, the Chicago-based institutional real estate
investment company led by Sam Zell and Tom Heneghan.
“We are very excited to partner with GuardeAqui in this joint venture.
We are confident in GuardeAqui’s industry-leading execution and
operational capabilities to retrofit and develop self-storage facilities
in Brazil, a country with a severe undersupply of quality properties and
yet demonstrated, growing demand. We are also pleased to work closely
with Equity International in this venture and believe their experience
and expertise will be integral to the continuing success of GuardeAqui,”
said David Boyle, CIO and Co-Head of the Morgan Stanley Alternative
Investment Partners Real Estate group.
GuardeAqui is the leading self-storage operator in Brazil with an
established, institutional-quality platform serving business and
residential customers. GuardeAqui’s current portfolio includes over
40,000 square meters (approximately 430,556 square feet) of leasable
space comprising seven assets: five operating properties in São Paulo,
Campinas and Ribeirão Preto, and two properties under development in Rio
de Janeiro and Belo Horizonte.
Funds from the joint venture will be used to acquire, retrofit and
develop self-storage assets under the GuardeAqui brand, leveraging the
company’s pipeline and demonstrated capabilities as a developer and
operator; capitalize on the sizable long-term opportunity to supply the
unmet demand for storage; and fuel GuardeAqui’s first-mover advantage as
the leader in the rapidly emerging self-storage sector. The joint
venture will pursue geographic expansion of GuardeAqui facilities in
greater São Paulo and Rio de Janeiro and other large metropolitan areas
of southeast Brazil.
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 São Paulo. By contrast,
there are approximately 50,000 self-storage facilities in the United
States today.
“The market opportunity for self-storage in Brazil is tremendous,
underpinned by limited supply along with favorable demographic trends
and economic growth,” said Allan Paiotti, CEO of GuardeAqui. “We are
honored to partner with Morgan Stanley Alternative Investment Partners
to accelerate GuardeAqui’s growth and execute on our pipeline.”
“The investment from a preeminent global institution such as Morgan
Stanley Alternative Investment Partners is a testament to GuardeAqui’s
platform and demonstrated leadership in this nascent and dynamic sector
in Brazil. We look forward to working with Morgan Stanley Alternative
Investment Partners as we expand the GuardeAqui footprint,” said Tom
Heneghan, CEO of Equity International.
About GuardeAqui
GuardeAqui is the leading self-storage operator in Brazil, providing
temporary and long-term storage solutions to commercial and residential
customers. With 40,000 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 São
Paulo, Ribeirão Preto, Rio de Janeiro, Belo Horizonte and Campinas, with
plans for additional expansion across Brazil. For more information,
please visit www.guardeaqui.com.
About Morgan Stanley Alternative Investment Partners
Morgan Stanley Alternative Investment Partners (AIP), established in
2000, specializes in assisting institutional and high net worth
investors achieve their goals through the design, integration and
management of alternative investment programs. Its multi-disciplinary
investment teams thoughtfully combine investment expertise across hedge,
private equity, real estate and multi-asset class strategies. Its client
solutions include custom alternative investment portfolios, completion
strategies, diversified and opportunistic multi-manager strategies and
fiduciary management. AIP has $33.6 billion in assets under management
and advisement and employs over 200 professionals as of December 31,
2013. Its investment offices are located in Philadelphia, New York,
London and Hong Kong.
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 25 portfolio companies to-date across 15 countries, with a
presence in the most compelling emerging markets. For more information,
please visit www.equityinternational.com.
Copyright Business Wire 2014