Shurgard announced the acquisition of its second self-storage facility from Box a la Carte, as part of the Company's expansion initiatives.
The freehold property is located in Senart - Combs-la-Ville (Seine et Marne, Paris region). Shurgard purchases the property and will invest €8.9m in redevelopment works, resulting in a total cost of acquisition of c. €9.3m for 570 units totalling c. 4,100m2. The property is expected to result in a stabilized yield of c. 8% at maturity. The actual occupancy for the property is c. 20%.
The facility will be equipped with our leading e-Rental solution, enabling easy online rentals and contactless transactions. In addition, our mobile app will be activated for existing and future customers, further enhancing customer convenience, just as with every other property we operate across Europe.
Marc Oursin, Chief Executive Officer of Shurgard Self-Storage, commented: "I want to express my gratitude for the continued trust that Box à la Carte has placed in us, making this second deal possible. The Paris region is an important area for our expansion, and we are eager to welcome new customers to our industry-leading platform."
Image source - Pexels.
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