Intriva Capital Launches SpaceGenie Drive-Up Self-Storage in Germany

Intriva Capital, an independent alternative-asset manager, has launched SpaceGenie, which will offer drive-up self-storage services in Germany. The company plans to build and operate more than 50 facilities comprising 2.6 million square feet, creating one of the largest platforms of its kind in the country, according to a press release. Intriva has already acquired land for its first location, with the goal of purchasing 10 sites this year in the Rhine-Neckar Metropolitan Region.

In addition, Juergen Hobrecker, senior asset manager for Intriva, will become head of business development for StorageGenie. His responsibilities include corporate, product and real estate development and management.

Boris Gold has been hired as head of operations, responsible for commercial operations and customer-oriented product development. He joins the company from Prime SelfStorage GmbH, a German self-storage owner and operator, where he was area manager for nearly seven years. Gold also held business-development roles with European producers of office furniture.

“The growth of e-commerce and flexible working during the pandemic, combined with new housing developments prioritizing living space at the expense of storage and people moving more often, has accelerated the demand for self-storage in Europe’s largest economy,” said Simon Finn, managing partner for Intriva. “As the first institutional-quality, drive-up self-storage platform in Germany, SpaceGenie will be uniquely positioned to meet the growing demand for storage from small and medium businesses as well as private consumers.”

Intriva is focused on sustainable value creation in mid-market businesses throughout Western Europe, according to the release. The company deploys capital across commercial, residential and leisure real estate markets.

Source: Intriva Capital, Intriva Capital launches SpaceGenie