BC Partners and Renta Corporación to invest in urban self-storage in Spain

Through a €40 mln equity commitment, BC Partners will support Cabe, Renta’s urban self-storage business, in quadrupling its operations and expanding to over 80 freehold centers across Spain by 2027.

Cabe currently owns and operates 20 locations in key cities such as Barcelona, Madrid, Palma de Mallorca, and Zaragoza.

David Vila, CEO of Renta Corporación, said: ‘The alliance with BC Partners Real Estate provides a strategic boost for Cabe, strengthening our expansion capacity in the Spanish urban storage market, which offers substantial growth opportunities. By combining our expertise with BC Partners’ global reach, we consolidate an innovative and flexible business model to meet the rising demand for urban self-storage in Spain.’

Laurian Douin, partner, Real Estate, BC Partners, added: ‘We are delighted to announce the second investment in Spain by our inaugural European Real Estate Fund. In Renta Corporación, we have found the ideal partner to further expand our portfolio and enter the highly compelling and rapidly growing Spanish self-storage market, a sector where we see huge potential and have built strong convictions. This collaboration aims to leverage our mutual strengths for platform growth and market entry, and we look forward to partnering with the Renta and Cabe teams to fuel our shared vision of the tremendous potential for a fully integrated owner-operator model in the urban self-storage sector in Spain.’

Renta Corporación will continue leading Cabe’s operations and management.

Spain has emerged as a major European market for urban storage, ranking fourth behind the UK, France, and Germany. According to the latest report by the Federation of European Self Storage Associations (Fedessa), storage transaction volumes reached €875 mln by the third quarter of 2024, three times higher than in 2023, demonstrating this market’s continued growth potential.