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Brookfield Asset Management is weighing a sale of Simply Self Storage: Bloomberg
Posted on Monday, 14 September 2020 06:27
Simply Self Storage may be on the shelf as private equity owner Brookfield Asset Management is reportedly exploring a USD 1.30 billion disposal.
Bloomberg cited people familiar with the matter as saying the buyout group is working with unnamed advisors on the potential sale and has already reached out to possible suitors.
Founded in 2003, Simply Self Storage operates over 225 facilities and over 18.00 million square feet of storage space, according to its website.
Brookfield purchased the company - when it had 90 properties - for USD 850.00 million in 2016.
Simply Self Storage offers several sizes of units from five feet by five feet to ten feet by thirty feet, the smallest of which can hold the content of one room, while the larger can take the belongings of a four- or five-bedroom home.
Brookfield Asset Management made the purchase via Brookfield Strategic Real Estate Partners II fund, a vehicle for acquisitions and investment in real estate companies, distressed loans and securities.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 78 deals targeting general warehousing and storage manufacturers announced worldwide in 2020 to date.
In the largest of these and the only deal worth over USD 1.00 billion, Gazeley agreed to acquire Goodman Group’s Central and Eastern Europe logistics portfolio for USD 1.12 billion.
This was followed by Aldi France's bid to acquire Leader Price assets from Casino in a deal worth EUR 735.00 million.
Other targets included Tesco's 301 stores and two distribution centres in Poland, Zamenhof Exploitation’s portfolio of 50 France-based logistics sites and Taicang Xiawei Storage.
© Zephus Ltd