Shurgard Self Storage SA: makes acquisitions in Sweden
FOR IMMEDIATE RELEASE
30 November 2022
Shurgard Self Storage SA
(“Shurgard”)
Shurgard acquires three stores from Instorage in the Stockholm region (Sweden)
LUXEMBOURG – Shurgard, the largest developer, owner and operator of self-storage facilities in Europe, is pleased to announce the acquisition of three facilities from Instorage in Sweden, strengthening its leading position in rentable space in this market and in Europe.
- Instorage was founded in 2015. The three properties acquired are specially built and located in and near Stockholm’s conurbation: Nacka (recently inaugurated in July 2022), Tyresö and Uppsala.
- They will complement Shurgard’s existing locations and technology.
- The three facilities currently have a combined net lettable area of approx. 13,000 sq m or c. 2,100 units.
- Occupancy is c. 40% and the stabilized return on this acquisition is expected to be around 8%.
- Shurgard currently has 39 self-storage in Sweden, a total of approx. 200,000 square meters of net lettable area.
- The deal marks the fourth acquisition deal (6 sites in total) for Shurgard this year – following recent acquisitions in France (November 2022), the Netherlands (September 2022) and the UK (April 2022).
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Shurgard’s current acquisitions in 2022 have amounted to c. 62.0 million euros for c. 25,000 net Sq.m.
– exceeding EUR 50 million | 20,000 sqm annual acquisition target as set out in our 2021 Investor Day growth plan.
Marc Oursin, managing director of Shurgard Self-Storage, commented:
“I am pleased to report the successful closing of our latest acquisition and it is yet another example of Shurgard continuing to grow through targeted bolt-on acquisitions. I would like to thank all parties involved in the transaction. The addition of these three high – quality assets to our growing portfolio will enable Shurgard to continue to offer first-class customer experiences to more Swedish customers.”
About Shurgard
Shurgard is the largest supplier of self-storage in Europe. The company owns and/or operates 265 self-storage facilities and approximately 1.3 million net leasable square meters in seven countries: France, the Netherlands, the United Kingdom, Sweden, Germany, Belgium and Denmark.
Shurgard is a GRESB 5 star and industry leader, has an “AA” ESG rating from MSCI, Sustainalytics Low risk, EPRA sBPR Gold Medal.
Shurgard’s European network currently serves more than 180,000 customers and employs approximately 750 people. Shurgard is listed on Euronext Brussels under the symbol “SHUR”.
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Shurgard Self Storage SA published this content on 30 November 2022 and is solely responsible for the information contained therein. Delivered by publicunedited and unaltered, on 1 Dec 2022 07:53:06 UTC.
Public now 2022
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Technical analysis trends SHURGARD SELF-STORAGE SA
Short term | After half time | Long term | |
Trends | Bear down | Neutral | Bear down |
Development of the income statement
Sell buy |
|
Average consensus | EXCEED |
Number of analysts | 11 |
Last closing price | €41.75 |
Average target price | €49.41 |
Spread / Average Goal | 18.3% |