European realtor Immofinanz Group, which owns 95 percent of Dutch self-storage operator City Box Self-Storage B.V., acquired a self-storage facility in Den Bosch, Netherlands, this month, bringing the total number of City Box properties to 24.
The 700-unit facility is approximately 90 kilometers (about 56 miles) south of Amsterdam and has approximately 5,000 square meters (about 16,400 square feet) of rentable space. Immofinanz acquired a 90 percent stake in City Box in 2007 and increased this holding to 95 percent during the 2009-10 fiscal year.
"We see a growing demand for safe and affordable temporary storage space, not only by private households, but also by self-employed persons and smaller firms," Manfred Wiltschnigg, member of the executive board of Immofinanz Group, told the source. "Our regular travels through our markets always include the evaluation of interesting acquisition targets. With the takeover of an existing self-storage property in Den Bosch, we have acquired an asset that can be optimally integrated into our established City Box chain."
Immofinanz Group is a real estate investor and developer listed on the Vienna Stock Exchange and is considered one of five major real estate companies in Europe.
City Box provides self-storage services for households and businesses in the Netherlands.
- Property Magazine: Immanofinanz Acquires Self-Storage Property in Den Bosch