Warburg Pincus-backed self-storage platform StorHub has launched in Australia with an initial portfolio of five facilities and a US$300m (€276m) equity commitment.
StorHub Australia marks the seventh market of StorHub’s regional expansion plan and adds to its 655,000sqm of facilities located in gateway cities across 7 markets in APAC.
Simon DeGaris, an industry veteran with nearly 20 years of experience in a variety of roles, including at Kennards Self Storage in Australia has been appointed CEO of StorHub Australia.
DeGaris said: “The self-storage industry in Australia is at an inflection point, driven by multiple favourable tailwinds, including record population growth fuelled by immigration and attractive demographics, increasing residential density, and evolving working from home conditions.
”These factors are creating a greater demand for modern, flexible and well-located self-storage.”
StorHub Australia’s first operating site is in Rouse Hill, in Sydney’s northwest. The platform expects to expand in Sydney, Melbourne, and Brisbane through strategic acquisitions and developments, capitalising on a pipeline of opportunities.
Founded in 2019 by Warburg Pincus, StorHub has grown to become APAC’s largest multi-country self-storage platform through a buy-and-build strategy. The APC business serves nearly 50,000 customers across 17 cities in Singapore, Japan, Malaysia, South Korea, Mainland China, Hong Kong SAR, and now, Australia.
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