The Board of Directors of Stor-Age Property REIT Limited announced that it has entered into a third-party management agreement with Hines to manage their recently acquired self storage portfolio in the UK. The portfolio, acquired on behalf of Hines European Real Estate Partners 3 (HEREP III) from a local private family proprietor, represents Hines' entry into the UK self storage market and will underpin their self storage portfolio assembly ambitions in the UK, which will be executed by acquiring existing stores and completing new developments. The properties in the Kent Space portfolio are located in Ashford, Chatham and Ebbsfleet and offer 78,000 sq.

ft of self storage space and 30,000 sq. ft of complementary office space. Adding the portfolio to the Storage King platform is highly complementary to the company's existing offering in Kent.