i-Store Becomes First Thai Self-Storage Operator to Receive Local REIT Investment

July 6, 2026

2 Min Read

i-Store Self Storage, which operates 13 facilities in Bangkok, has become the first self-storage operator in Thailand to receive investment from a local real estate investment trust (REIT). KPN Real Estate Investment Trust (KPNREIT) provided THB 60 million for the i-Store facility at Sukhumvit 71, one of the operator’s flagship locations, according to the source.

Since opening, the property has maintained an occupancy exceeding 80%, demonstrating strong customer demand and sustainable income-generating capability, factors that played a role in KPNREIT’s investment decision, the source stated.

“The investment by a REIT is not only a success for i-Store but also a strong endorsement of Thailand’s self-storage industry as a whole. Such investments require rigorous due diligence covering location potential, recurring revenue capability, occupancy performance and cash-flow stability,” said Pakdee Aniwat, CEO of Storage Asia Public Co. Ltd., which operates the i-Store portfolio.

i-Store plans to grow by adding seven more locations comprising more than 19,000 square feet. The expansion is designed to support demand from individual consumers, small to medium-sized enterprises, and e-commerce businesses, the release stated.

“Self-storage has become an increasingly attractive asset class in many countries, driven by urbanization, smaller residential spaces, and rising demand for storage from e-commerce operators and small businesses,” said Roongyos Janthapasa, CEO of Blue Whale Asset Co. Ltd., the REIT manager of KPNREIT. “Our investment in i-Store Sukhumvit 71 not only enhances portfolio diversification but also provides exposure to a high-performing asset with a strong customer base and the potential to generate sustainable long-term returns.”

Headquartered in Bangkok, i-Store opened its first facility in 2017. In addition to traditional self-storage, its locations offer wine storage and valet storage.

KPNREIT is a closed-end, independent diversified REIT listed on the Stock Exchange of Thailand. It’s seeking investment opportunities in industrial buildings, warehouse and emerging real estate sectors such as self-storage, the release stated.

Source: Kaohoon International, i-Store Completes Thailand’s First Self Storage REIT Transaction Through THB60 Million KPNREIT Investment