Private equity firm HIG Capital has provided mezzanine financing to Storage24, a German based business storage platform.
The €59 mln facility is backed by 55 properties totalling over 225,000 m2.
Riccardo Dallolio, managing director and head of HIG Europe Realty in London, commented: ‘Following our investment in Titan Storage Solutions, a self-storage platform in the UK, we have identified Storage24 as a key player in the business storage segment with a compelling business plan. Our flexible approach to invest across the capital structure, and our sector specific knowledge, has allowed us to become a partner of choice for high quality real estate operating platforms.’
Chris Zlatarev, principal at HIG Europe Realty, added: ‘We are delighted to partner with Storage24, which is a leading business storage platform with operations in key markets such as Germany, France, the Nordics and the U.K. We have structured a tailor-made financing to support the company’s growth serving the needs of the SME sector.’
