Day: December 1, 2021

Shurgard Bows To TIAA / T-C Storage In Bid For Sweden Self-Storage Operator 24Storage

Shurgard Self Storage withdrew its offer to purchase 24Storage after financial-services firm Teachers Insurance Annuity Association of America (TIAA) increased its bid to SEK 76 per share. TIAA, bidding through Sweden affiliate T-C Storage BidCo AB, initially offered SEK 62 per share on November 8th before Shurgard made a larger offer. T-C Storage has agreed to buy 92.38% of 24Storage outstanding shares and set an acceptance deadline of December 13th, according to a press release. “The offer from TIAA validates Shurgard’s interest in 24Storage and underpins the strong investor interest…

SREF Appoints Flexiss To Manage 230,000 Sq Ft Self-Storage Portfolio

Schroder UK Real Estate Fund (SREF) has instructed industry storage specialist, Flexiss as the new asset manager for its 230,000 Sq Ft self-storage portfolio of five assets around London. Flexiss will manage SREF’s portfolio of self-storage assets which are all located around outer London and the M25, and operates under SREF’s specialist brand name the Self Storage Company, as the fund seeks to further grow rental income and investment returns. SREF was amongst the first investors entering this alternative market when it acquired the Self Storage Company brand and its…

MCR Property Continue Scottish Expansion With £6m Refurb Contract

MCR Property Group has acquired its second multi-let business complex in Scotland as it continues its drive to expand rapidly north of the border. The property developer is investing £6 million in the Pentagon Business Centre, to create a modern, comfortable home for well over a hundred businesses. MCR Property chose to retain all staff in place and created ten additional job roles. The historic six-storey building at 36 Washington Street overlooks the River Clyde and sits at the heart of Glasgow’s financial district. It was constructed over 120 years…