The real estate Corporation Income has incorporated BC Partners Real Estate as a shareholder of Fitsyour rental business urban storage rooms created in 2022. The investment arm of the international firm BC Partners has committed to contributing 40 million euros to finance the expansion of the subsidiary. After this alliance, Cabe’s new partner takes over 30% of the company’s share capital. Renta Corporación will maintain exclusive management, taking full responsibility for the management and purchase of real estate assets.
Cabe currently owns and operates 20 locations in cities such as Barcelona, Madrid, Palma de Mallorca and Zaragoza, and plans to reach more than 80 owned centers in the next three years.
“The alliance with BC Partners Real Estate represents a strategic boost for Cabe, strengthening our capacity to expand in the Spanish urban storage market, which offers great growth opportunities. By uniting our experience with the global reach of BC Partners, we consolidate a model of innovative and flexible business to respond to the growing demand for last mile storage in Spain”, he pointed out David VilaCEO of Renta Corporación.
On your side, Laurian DouinReal Estate partner at BC Partners, stated that “we are pleased to announce our second investment in Spain through our first European real estate investment fund.” The fund’s first operation in the national market occurred in 2022 with the acquisition of the Novartis headquarters in Barcelona, then in the hands of Freo.
“In Renta Corporación we have found the ideal partner to expand our portfolio and enter the attractive and dynamic Spanish market for urban storage rooms, a European sector with enormous potential in which we firmly believe,” added Douin.
In recent years, Spain has established itself as one of the main European markets in this segment, only behind the United Kingdom, France and Germany. According to figures from the latest report from the Federation of European Self-Storage Associations (FEDESSA), storage transaction volumes until the third quarter of 2024 reached €875 million, three times more than the previous year.
To a large extent, the high demand for this type of spaces It is due to the reduction in the size of homes and the density of cities. Added to this need is a technological layer to offer a digital experience that makes the service more secure, comfortable and efficient.
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