September 10, 2021
Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., this week unveiled its corporate growth initiatives during a virtual Investor Day. The plan includes an aggressive acquisition and development strategy designed to grow the company’s portfolio over the next several years as well as furthering its sustainability and social initiatives, according to a press release.
Shurgard’s development strategy includes the expansion of existing sites, plus the exploration of new-construction and conversion opportunities. The company will also pursue acquisitions of smaller operators. It expects to infuse €170 million per year toward expansion, with the goal of adding 90,000 square meters or 16 locations to its portfolio by 2024, the release stated.