Category: Recent Transactions

Self Storage Group ASA: Acquisition of Property in Gardermoen, Norway

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a new-build property in Gardermovegen in Nannestad, Norway. The transaction has a property value of NOK 11.5 million, with an estimated lettable area of 1050 square meters. The facility is projected to open during Q3 2022. The property in Gardermovegen will be operated under the OK Minilager brand. “The property is located in Øvre Romerike, a region north of Oslo with strong growth. The location has easy access from main roads, close to Jessheim. This acquisition is in line with…

Heitman Expands Space Station Self Storage Platform

Heitman, a global real estate investment management firm, has acquired bof Squab Daventry, a self-storage asset located in the Midlands. The investment marks the second acquisition expanding Space Station, a UK self storage platform that a Heitman affiliate acquired in late 2020 and adds further density into a key target region of the country. As we continue to observe tangible economic recovery, we see significant opportunities within the self storage sector and more broadly alternative real estate, given their secular demand drivers and attractive risk profile.” The asset continues the…

European Self Storage Operator Shurgard Hits 250-Store Milestone

Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., has reached its 250th location with the opening a facility in Argenteuil, a commune in the northwest suburbs of Paris. The eight-story building comprises 75,347 square feet in more than 1,100 units, according to a press release. We are thrilled to have opened our 250th property in Europe, especially in the Paris region, which is key to our expansion plan.” Shurgard has been ramping up its European expansion through acquisitions and development since…

StorageMart Acquires Two New Facilities in the UK

With the recent acquisition of two former CityStore properties in Aylesbury in Buckinghamshire and Dunstable in Bedfordshire, StorageMart extends its influence in the competitive UK market. These locations fit very nicely into our existing portfolio of assets and our Greater London strategy. We have had a banner year for performance of our existing UK portfolio, and expansion of our UK footprint makes a lot of sense for us at this time as a result.” The new UK locations are two of many in a series of acquisitions, joining recent US closings in Indiana, Iowa, and Maryland. With more acquisitions either planned…

Tulfra Real Estate Acquires Land in Jersey City for 2,422-Unit Self-Storage Project

Locally based developer Tulfra Real Estate has acquired land in Jersey City for the construction of a 2,422-unit self storage project. The facility will be located at 300 Thomas McGovern Drive and will have a gross square footage of approximately 261,000 square feet, including an adjoining parking structure will also be constructed as part of the project. Thomas Walsh of Walker & Dunlop brokered the land deal. A groundbreaking date will be announced in the coming days. According to Tulfra, there are approximately 159,000 housing units and 22,500 new apartments…

Self Storage Firm Secures Bank Backing for Expansion

A self storage business with sites across the South East is poised for further growth after securing the backing of Lloyds Bank. Cinch Self Storage has purchased an already-operational 12,500 sq ft facility in Brighton, comprising units ranging from 15 to 250 sq ft. We’re an ambitious and rapidly-growing company, which is reflected by the purchase of our sixth facility in just three and a half years, with more to follow.” The acquisition was backed by a seven-figure loan from Lloyds. Cinch has existing facilities in Bicester, Chippenham, Huntingdon, Letchworth…

Self Storage Company Launches Facility at Former Magistrates Court

The newest addition to the fast-growing Storage Giant portfolio has been launched in the former Oldbury magistrates court. The site offers a purpose-built self storage facility featuring more than 26,000 square feet of unit space, from ten square foot lockers to 330 square foot units. This expansion is, of course, good news for Storage Giant – a firm which started life as a single facility concern in Newport, Wales during a recession” Simon Williams, Storage Giant MD, said: “This latest launch for Storage Giant, just five minutes from the motorway…

Big Yellow Group to Build in Epsom, England

U.K. self storage operator Big Yellow Group PLC is building a facility on a 0.8-acre site in Epsom, England, just south of London. The company purchased the property for £6.5 million. Once complete, the project will be 56,000 square feet. Big Yellow Group operates 101 self storage locations in the United Kingdom under the Big Yellow Self Storage and Armadillo Self Storage brand names, with most concentrated in Greater London and Southeast England. Source

Big Yellow Group Completes Armadillo Acquisition with Placing Funds

Big Yellow Group PLC on Thursday said it has completed its acquisition of Armadillo with funds from a recent placing. The Surrey, England-based self storage provider revealed plans to acquire the remaining 80% stake in Armadillo, last Wednesday. The purchase was funded by a placing worth GBP100 million from of 7.8 million shares, priced at 1,290 pence each, completed last Thursday. Big Yellow now owns 100% of Armadillo, which includes both Armadillo Storage Holding Company Ltd and Armadillo Storage Holding Company 2 Ltd. Big Yellow Group shares were trading down…