{"id":836,"date":"2021-12-21T08:59:03","date_gmt":"2021-12-21T08:59:03","guid":{"rendered":"https:\/\/listselfstorage.com\/uk\/industry-insights\/?p=836"},"modified":"2021-12-21T08:59:03","modified_gmt":"2021-12-21T08:59:03","slug":"nuveen-to-acquire-self-storage-operator-in-sweden","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/uk\/industry-insights\/nuveen-to-acquire-self-storage-operator-in-sweden\/","title":{"rendered":"Nuveen To Acquire Self-Storage Operator In Sweden"},"content":{"rendered":"


\nNuveen Real Estate is acquiring 24Storage, the second largest self-storage operator in Sweden.<\/span><\/span><\/span><\/em><\/p>\n

Nuveen has acquired c.92.4% of 24Storage via unconditional share purchase agreements and the subsequent launch on 29 November 2021 of a mandatory public tender offer to acquire the remaining shares (and votes) to ultimately take 100% control of 24Storage, said Nuveen in a statement.<\/span><\/span><\/span><\/p>\n

The acquisition is based on a share price of SEK 76 per share, equating to an enterprise value of approximately SEK 2.1BN.<\/span><\/span><\/span><\/p>\n

24Storage owns 26 assets and a further four assets under development. The assets are centered around Sweden\u2019s three major cities of Stockholm, Gothenburg, and Malm\u00f6 and comprise approximately 12,000 individual units.<\/span><\/span><\/span><\/p>\n

This transaction follows the recent acquisition of the Green Storage platform last month, which comprised 14 existing assets.<\/span><\/span><\/span><\/p>\n

\u201dThe acquisitions enable Nuveen to build a market-leading platform in Sweden, underpinned by a high-quality portfolio of 44 assets and a highly experienced management team. In addition, the platforms benefit from complimentary strategies with a location-driven focus, digitalised operational platforms, and pioneering sustainability credentials,\u201d the company said.<\/span><\/span><\/span><\/p>\n

Jasper Gilbey, Head of TIAA General Account and Alternatives in Europe at Nuveen, said: \u201dWe are delighted to be acquiring 24Storage \u2013 the second largest self-storage operator in the Swedish market. The company has successfully built up a high-quality real estate portfolio in Sweden\u2019s top three cities and we fully subscribe to their strong focus on technology and sustainability to drive operational efficiencies and provide a future-proofed storage solution.\u201d<\/span><\/span><\/span><\/p>\n

\u201dThe privatisation of a high profile listed company reinforces Nuveen\u2019s ability to access interesting investment opportunities in both the public and private markets while also demonstrating our commitment to grow our self-storage footprint across Europe. The combined portfolio with Green Storage will create a market-leading platform in Sweden with significant synergies and exciting growth potential in the coming years,\u201d he added.<\/span><\/span><\/span><\/p>\n

Source<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nuveen Real Estate is acquiring 24Storage, the second largest self-storage operator in Sweden. Nuveen has acquired c.92.4% of 24Storage via unconditional share purchase agreements and the subsequent launch on 29 November 2021 of a mandatory public tender offer to acquire the remaining shares (and votes) to ultimately take 100% control of 24Storage, said Nuveen in a statement. The acquisition is based on a share price of SEK 76 per share, equating to an enterprise value of approximately SEK 2.1BN. 24Storage owns 26 assets and a further four assets under development.…<\/p>\n","protected":false},"author":13,"featured_media":837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,5],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts\/836"}],"collection":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/comments?post=836"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts\/836\/revisions"}],"predecessor-version":[{"id":838,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts\/836\/revisions\/838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/media\/837"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/media?parent=836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/categories?post=836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/tags?post=836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}