London, 27 October 2022 - PineBridge Benson Elliot, the UK-based specialist pan-European real estate fund manager, has acquired a controlling stake in Necesito un trastero SL, the second largest self-storage operator in Spain.
Founded in 2015, Necesito un trastero has grown quickly, to now operate 81 franchises providing over 20,000 sqm of self storage space across Spain. Necesito un trastero’s strategy is founded on repurposing existing warehouse and retail space to provide affordable, accessible and secure storage units for both private and corporate clients.
Necesito un trastero will continue its strategy to consolidate and increase storage density in the Spanish self-storage market, which is currently the third largest in Europe.
James Jakeman, Senior Partner at PineBridge Benson Elliot said: “With an experienced management team, proprietary technology and a nationwide footprint, we believe Necesito un trastero is well positioned to enjoy accelerated growth and scaling of the business as demand drivers continue to propel this resilient sector. These strengths, alongside continuing growth in investor interest in self-storage, will support the business moving forwards.”
PineBridge Benson Elliot is a pan-European real estate private equity specialist with two decades of investment experience, deep market knowledge and in-house operational expertise. PineBridge Benson Elliot was acquired by PineBridge Investments in January 2021. PineBridge Investments is a private, global asset manager focused on active, high-conviction investing. As of 30 June 2022, the firm managed US$141.1 billion across global asset classes for sophisticated investors around the world. As of 31 March 2022, PineBridge Benson Elliot manages $3.1 billion in AUM.1
For more information, please visit www.pinebridge.com
1PineBridge Benson Elliot track record includes all fund vehicles managed by PineBridge Benson Elliot professionals since 2006 in addition to Doughty Hanson European RE Fund I (“DH 1”) in 1999, which was managed by Marc Mogull at a predecessor firm; DH 1 comprised the same investment strategy deployed by all subsequent PineBridge Benson Elliot funds. Includes all investments managed by PineBridge Benson Elliot, including DH 1.