PineBridge Benson Elliot, a UK-based specialist pan-European real estate fund manager, has acquired a controlling stake in Necesito un trastero, the second largest self-storage operator in Spain, for an undisclosed amount.
Founded in 2015, Necesito un trastero has grown quickly, to now operate 81 franchises providing over 20,000 m2 of self storage space across Spain. Necesito un trastero’s strategy is founded on repurposing existing warehouse and retail space to provide affordable, accessible and secure storage units for both private and corporate clients.
Necesito un trastero will continue its strategy to consolidate and increase storage density in the Spanish self-storage market, which is currently the third largest in Europe.
James Jakeman, senior partner at PineBridge Benson Elliot said: ‘With an experienced management team, proprietary technology and a nationwide footprint, we believe Necesito un trastero is well positioned to enjoy accelerated growth and scaling of the business as demand drivers continue to propel this resilient sector. These strengths, alongside continuing growth in investor interest in self-storage, will support the business moving forwards.’
PineBridge Benson Elliot is a pan-European real estate private equity specialist and was acquired by PineBridge Investments in January 2021. PineBridge Investments is a private, global asset manager focused on active, high-conviction investing with $141.1 bn of assets under management.
