Heitman, Talliosake Launch Nordic Self-Storage Platform

Global real estate investment management firm Heitman LLC has partnered with Finnish self-storage developer Talliosake Oy to establish Talli, a new drive-up self-storage platform targeting expansion in Finland and Sweden.

The platform was formed through Heitman's acquisition of a majority interest in Talliosake's rental operating business. Talliosake will retain a minority ownership stake in the venture. The transaction was completed on behalf of Heitman's European value strategy and builds on the firm's Nordic self-storage presence following its acquisition of Sweden's Servistore platform in 2024.

Talli will combine Talliosake's development and operating experience with Heitman's investment and operational capabilities. Since 2010, Talliosake has developed more than 6,400 drive-up self-storage units across 230 properties in Finland and Sweden, establishing expertise in land acquisition, planning, development, leasing and asset management.

The new platform's initial portfolio consists of 15 properties, including 11 in Finland and four in Sweden. Heitman and Talliosake plan to expand the portfolio through additional development opportunities and physical and operational improvements.

"Finland and Sweden are both fragmented, undersupplied markets, with strong demand for drive-up self-storage from both business and residential customers," said Caleb Mercer, managing director of private equity Europe at Heitman. He also cited the firm's experience supporting the growth and eventual initial public offering of Shurgard, now Europe's largest self-storage owner and operator.

The partnership represents a shift in Talliosake's business model. Historically, the company has focused primarily on developing and selling individual drive-up storage units. Under Talli, the partners will pursue a develop-to-hold strategy, retaining and operating income-producing properties for the long term.

Mikko Lahtinen, CEO of Talli Nordics, will lead the platform alongside Talliosake's existing management team, with support from Heitman. The strategy is intended to accelerate development, increase portfolio scale and establish an institutional-quality self-storage operation serving businesses, entrepreneurs and residential customers.

"We have spent over 15 years developing our drive-up self-storage concept," Lahtinen said. "We have an experienced and skilled team, with a strong understanding of the market. As we take the next step and significantly accelerate our growth, our goal is to create several new drive-up self-storage units across Finland and Sweden for entrepreneurs, businesses, and consumers."

Lahtinen added that the partnership provides the team with the resources and long-term foundation to build Talli into a leading Nordic drive-up self-storage platform.

Founded in 1966 and headquartered in Chicago, Heitman reported $49.1 billion in assets under management as of Sept. 30, 2026. The firm has 11 offices worldwide, including its European headquarters in London, and invests in real estate through private equity, debt and publicly traded real estate securities.

Heitman said it has invested more than $15 billion in approximately 1,600 self-storage properties across 14 countries since 1996.

Talliosake introduced its drive-up self-storage concept in 2010. In addition to development, the company provides asset management and leasing services to institutional and private investors. Its properties serve residential and business customers seeking space for storage, workshops, production, maintenance and other commercial uses.