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Private Investment Firm Ardian Enters French Self-Storage Market With Purchase of Costockage

January 18, 2024

2 Min Read
Self-Storage-News

Global private investment firm Ardian has entered the French self-storage market with its acquisition of Costockage, which operates 10 facilities in the country and offers an online self-storage marketplace. Costockage Founders Mickael Nadjar and Adam Levy-Zauberman will continue to lead the company, according to a press release.

“As part of our real estate asset-class diversification strategy, we are delighted to now include self-storage in our portfolio,” said Stéphanie Bensimon, head of real estate. “We believe it is the right time to enter this sector, as it is at a nascent stage in France compared to other mature markets such as the United States of America and the [United Kingdom]. The sector's low-emissions fundamentals were also key in our decision-making."

Founded in Paris in 2012, Costockage helps users rent storage space from self-storage operators or private individuals. It launched its operating division Kostok in 2017. The company’s growth plans include acquiring existing facilities, developing new sites and converting distressed properties to self-storage, the release stated.

“We are delighted that Ardian will help us develop the company. We are excited to keep working on a first-class experience to provide storage to people and companies,” stated Nadjar and Levy-Zauberman in the release. “We've pioneered the field of turning unused space into self-storage, and are delighted to now have a partner with expertise in both real estate and company development. The self-storage asset class is growing strongly and has its best days ahead.”

“As France's No. 1 marketplace and growing operator, we see Costockage as an innovative response to the demand for space thanks to their digital expertise,” said Omar Fjer, managing director for Ardian. “We are keen to help the company with the next stages of its development, especially regarding its real estate holdings. We are confident this is the right opportunity to enter the asset class and provide strong risk-adjusted returns to our clients.”

Ardian manages or advises $160 billion in real estate assets on behalf of more than 1,560 clients globally. It has 19 offices in Asia, the Americas, Europe and the Middle East.

Source: Newswire, Ardian Completes its First Self-Storage Investment With the Acquisition of Costockage

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