Ardian debuts in self-storage with Costockage deal

Founded in Paris in 2012, Costockage is an online marketplace enabling professionals and individuals to rent storage units from established operators and/or unused storage spaces from individuals.

Stephanie Bensimon, head of real estate at Ardian, said: 'As part of our real estate asset class diversification strategy, we are delighted to now include self-storage in our portfolio.

'We believe it is the right time to enter this sector as it is at a nascent stage in France compared to other mature markets such as the United States of America and the UK. The sector’s low-emissions fundamentals were also key in our decision making.'

In 2017, Costockage launched Kostok, its self-storage centre operating arm which develops and operates storage spaces with a digital approach. As of today, the company operates 10 centres all over France with the ambition to add many more in the years to come.

The company and its management team have more than 10 years' experience and a strong know-how in sourcing, development, and data analytics. Mickael Nadjar and Adam Levy-Zauberman, Costockage’s founders, will stay at the helm of the company to continue developing their business and leverage on their deep on-the-ground experience.

Ardian said that the next stage of growth for the firm will take the form of building acquisitions, transforming distressed real estate and acquisition of ongoing self-storage operations.

Said Omar Fjer, managing director, Ardian: 'As France’s #1 marketplace and growing operator, we see Costockage as an innovative response to the demand for space thanks to their digital expertise.

'We are keen to help the company with the next stages of its development, especially regarding its real estate holdings. We are confident this is the right opportunity to enter the asset class and provide strong risk-adjusted returns to our clients.'

Ardian was advised by Edmond de Rothschild. Alantra advised the sellers.