Merito Plans largest pan-Baltic network of self storage facilities

Signet Bank has invested EUR 750,000 in the development of the largest self storage facility network in the Baltic States owned by the Merito Self Storage Fund, a specialized real estate fund managed by the Latvian investment company Merito Partners. 

This year, Merito established its specialized real estate fund, Merito Self Storage Fund, with total target size EUR 30 million. The company also aims to secure around EUR 50 million in bank co-financing. The objective is to establish the largest pan-Baltic network of self storage facilities over the next five years. It will consist of more than 10 self storage facilities, with over 10,000 individual self storage units. 

"For our economy to grow faster, we need sustainable business ideas that are scalable across a broader market. An excellent example is a plan to develop an international self storage network by the Latvian investment company Merito Partners. This project has a significant upside and potential return of investment," said Roberts Idelsons, Chairman of the Board of AS Signet Bank.

"We are delighted that AS Signet Bank has placed its trust in the potential of Latvian investors since the establishment of the fund. We are currently in active negotiations for the acquisition of additional properties, and we aim to conclude these discussions in the next months. This will allow us to further develop the self storage facility network in Latvia, Estonia, and Lithuania," explains Mārtiņš Baumanis, Partner and Co-Founder at Merito Partners.