Fund manager Nordic Real Estate Partners (NREP) has expanded its Pelican self-storage business by acquiring SelStor in Sweden. The deal makes Pelican the second-largest self-storage operator in the Nordics with 27 operational sites by end-2013.
Fund manager Nordic Real Estate Partners (NREP) has expanded its Pelican self-storage business by acquiring SelStor in Sweden. The deal makes Pelican the second-largest self-storage operator in the Nordics with 27 operational sites by end-2013.
Pelican, which was founded by NREP and M3 Capital Partners in 2009, has strong positions in Denmark and Finland with 12 sites in operation and another five openings planned for 2013, according to NREP.
SelStor was founded in 2006 by Michael Fogelberg, the former European head of Shurgard. It operates eight sites in Sweden and has two planned openings next year.
