Tristan Capital Partners has provided a €110m loan to 1BOX, which nearly doubles an initial €58m financing provided in 2023 to support to support the self-storage platform’s continued growth across Europe.
1BOX, which is owned by US real estate investment firm Volta Global, currently has a portfolio of 29 self-storage assets in the Netherlands, along with three operating properties in France and additional projects under development, representing an increase from the 18 properties financed in February 2023.
Back in February 2023, Tristan Capital’s Tips One Income Plus Real Estate Debt Fund provided €58m of senior debt financing to 1Box for the refinancing of a portfolio of self-storage assets in the Netherlands.
Volta Global said the proceeds from the refinancing will fund property enhancements, “recapitalise existing shareholder equity and provide capital reserves for continued expansion through M&A and new development in the Netherlands”.
Jeff Evans, president of Volta Global, said: “This strengthened partnership with Tristan Capital Partners is a cornerstone of our strategy to capitalise on the significant growth opportunities in the self-storage sector – not only in the Netherlands but across Europe.
“This financing marks an important step in advancing our ambitious plans for expansion and innovation. We are proud to continue this journey alongside Tristan Capital Partners and our outstanding management team in the Netherlands, led by managing directors Jasper Bos and Jan Bikker, as well as our CFO, Tom Spauwen.”
Dan Pottorff, head of debt investment at Tristan Capital Partners, said: “This refinancing reflects our strategy of providing tailored capital solutions to high-quality sponsors operating in growth sectors across Europe.
“We are thrilled to strengthen our partnership with 1BOX Group through this €110m refinancing. 1BOX’s strong operational platform and innovative approach to self-storage make them an ideal partner for Tristan’s credit strategy of supporting high-potential real estate platforms. We are pleased to support their continued growth.”
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