The US fund PineBridge Benson Elliot has bought a majority stake in Necesito un Trastero, the Spanish company that operates the largest network of storage room rental franchises in Spain. The portfolio, which comprises 91 franchises and 8,000 storage rooms in total, has a presence in sixteen autonomous regions and comprises more than 70,000 square metres of storage space, half of which are currently available for rent, according to the company’s website. The Spanish fund Talus Real Estate has also participated in the transaction, according to reports from Eje Prime.
Following the acquisition, which became effective in August, representatives of the two funds have joined the board of Necesito un Trastero this September. In this way, Gregg Gilbert and Pablo Redondo, General Director and Senior Vice President of PineBridge BE, respectively, and David Finkel, Executive Director of Talus RE, which has intervened as a representative of Ardallie, a company controlled by the Spanish fund, all now sit on the board.
Read the full article in Spanish.
