Stor-Age adds to UK portfolio in venture with Nuveen Real Estate
JV to buy Easistore, which Stor-Age will manage and rebrand under the Storage King label it owns in Europe
12 April 2023 - 18:21
Stor-Age, SA’s only specialist self-storage real estate investment trust (Reit) has formed a joint venture with Nuveen Real Estate to buy Easistore, a four-property self-storage facility in the UK.
Nuveen will take a 90% stake in the venture and Stor-Age’s 10% stake will cost £4.4m including transaction and rebranding costs, the company said in a statement on Wednesday. The investment has an estimated forecast pre-tax yield of 15%, Stor-Age added...
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