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UK's Safestore partners with Nuveen to buy Italy's second-largest self-storage firm, Easybox, for €175M.
Safestore, a UK-based self-storage company, has teamed up with Nuveen Real Estate to buy Italy's second-largest self-storage operator, Easybox, for €175 million.
This joint venture, with each party holding 50%, will acquire 10 Easybox stores and two upcoming developments.
Safestore will manage the venture, aiming to expand into the underdeveloped Italian self-storage market.
The deal will initially cost Safestore about €45 million.
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Safestore del Reino Unido se asocia con Nuveen para comprar la segunda firma de autoalmacenamiento más grande de Italia, Easybox, por 175 millones de euros.