Norway-based Self Storage Group ASA (SSG) and its Danish subsidiary, City Self-Storage A/S, have agreed to acquire the five-property Dit Pulterkammer Holding A/S self-storage portfolio in Denmark. The facilities, which include three locations in Aarhus and one each in Kolding and Randers, comprise approximately 9,300 square meters. The DKK 102 million deal is expected to close during the second quarter, according to the source.
SSG will use an existing bank facility to buy the portfolio from Olav W. Hansen A/S and Schur Finance A/S. The company intends to expand three of the properties, adding a total of 2,100 square meters. The five locations are 79 percent occupied on average, the source reported.
SSG operates 116 facilities across Scandinavia under the City Self-Storage and OK Minilager brand names. Its portfolio comprises 148,200 square meters.
Global Legal Chronicle, Self Storage Group ASA’s Acquisition of Dit Pulterkammer