Invista Real Estate Investment Management PLC secured $42.7 million from a U.S. institutional investor for the Big Orange Self Storage Fund. The new equity will be used to grow the company’s self-storage assets in Asia.
Invista purchased the fund from Babcock & Brown, the Australian investment house that went into administration in April. Established in 2006, the fund supplies self-storage and storage management solutions in Hong Kong and Singapore. It currently owns 35,000 square metres of self-storage space across five sites.
The fund is currently owned 100 percent by Invista Real Estate International Fund which, in turn, is 50 percent owned by Invista.
Source: Property Week, Invista Secures a US$42.7m for Big Orange Self Storage Fund