H.I.G. Capital’s affiliate H.I.G. Realty has provided a €59 million mezzanine financing to Storage24, a German based business storage platform backed by 55 properties totalling over 225,000 sqm.
Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty in London, commented: “Following our investment in Titan Storage Solutions, a self-storage platform in the U.K., we have identified Storage24 as a key player in the business storage segment with a compelling business plan. Our flexible approach to invest across the capital structure, and our sector specific knowledge, has allowed us to become a partner of choice for high quality real estate operating platforms”.
Chris Zlatarev, Principal at H.I.G. Europe Realty, added: “We are delighted to partner with Storage24, which is a leading business storage platform with operations in key markets such as Germany, France, the Nordics and the U.K. We have structured a tailor-made financing to support the company’s growth serving the needs of the SME sector”.