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The latest announcement is out from Safestore Holdings ( (GB:SAFE) ).
Safestore Holdings has announced a strategic expansion into Italy through a joint venture with Nuveen Real Estate, acquiring the Italian self-storage provider Easybox for €175 million. This move marks Safestore’s entry into a largely underserved market in Europe, aiming to leverage its management expertise and expand its portfolio into new geographies. The acquisition includes ten operational stores and two developments, with expected earnings accretion by 2027 and a projected 10% cash-on-cash return upon stabilization, highlighting the growth potential in Italy’s nascent self-storage sector.
More about Safestore Holdings
Safestore is one of Europe’s largest owners and operators of self-storage facilities, with a presence in the UK, France, Netherlands, Spain, Belgium, Germany, and Italy. Founded in 1998, it manages a significant portfolio of properties with a maximum lettable area of 8.59 million square feet and is publicly traded on the London Stock Exchange as part of the FTSE 250 index.
YTD Price Performance: -23.31%
Average Trading Volume: 535,861
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.42B
Find detailed analytics on SAFE stock on TipRanks’ Stock Analysis page.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
