Storage Asia Public Company Limited (“Storage Asia” or “i-Store”) and Blue Whale Asset Co., Ltd. (“Blue Whale Asset”), the REIT manager of KPN Property REIT (“KPNREIT”), have successfully completed an investment transaction in the i-Store Self Storage Sukhumvit 71 project. On 15 June 2026, the asset transfer and leasehold registration were completed, with a total investment value of THB 60 million.
Under the transaction, KPNREIT has acquired the leasehold rights of the i-Store Sukhumvit 71 property and purchased the related operating assets. The leasehold rights have a term of 30 years from the registration date, providing KPNREIT with a stable long-term income stream while further diversifying its investment portfolio.
The Sukhumvit 71 opened in May 2022 as i-Store’s third branch, has demonstrated strong operating performance. The facility achieved an occupancy rate of 80% within its first year of operation and has consistently maintained occupancy above 80% thereafter. The branch offers a wide range of storage unit sizes from 0.72 to 25 square metres, enabling it to serve a diverse customer base, including individual customers, corporate clients, Thai residents, and expatriates.
This transaction marks a significant milestone for Thailand’s self storage industry, representing the first time that self storage assets have been successfully incorporated into a Real Estate Investment Trust (REIT) structure in the country. The transaction highlights the growing recognition of self storage as an alternative real estate asset class capable of generating stable and recurring long-term returns for investors.
The investment also aligns with KPNREIT’s strategy of expanding into new asset classes with strong growth potential. At the same time, Storage Asia will be able to utilize the proceeds from the transaction to support future branch expansion, develop new projects, and accelerate the growth of its self storage platform to meet increasing market demand.
Today, i-Store is one of Thailand’s leading self storage operators, with 13 locations across Bangkok. The company continues to expand its network to serve both individual and business customers seeking secure, convenient, and professionally managed storage solutions.
Beyond its commercial value, this transaction demonstrates institutional investor confidence in the long-term potential of the self storage sector and establishes a new model for asset monetisation within the industry. By enabling stabilised self storage assets to access capital market investment structures, the transaction creates a pathway for sustainable business growth and future industry development in Thailand.
