Box Infiniti, a company specialised in the ownership and management of urban self-storage facilities in Madrid and Barcelona, has reached a strategic agreement with Crossroads, which becomes the majority shareholder of the newly created platform with the aim of building one of the leading self-storage companies in Spain.
As part of the transaction, both parties have set up a joint venture in which Crossroads holds a majority stake and plans to invest up to €100 million over the next five years to acquire, develop and operate a portfolio of urban self-storage assets across Spain. The transaction was advised by CBRE, through its Real Estate Investment Banking (REIB) division.
Luis Casanovas, founder and owner of Box Infiniti, will retain a minority stake in the platform. According to Casanovas, “this is an opportunity to leverage all the knowledge, technology and experience developed in the self-storage sector, and to create a successful and highly attractive platform”.
For his part, David Guillerman, founder of Crossroads, stated that “we are pleased to partner with Box Infiniti in our shared objective of building a leading urban self-storage platform in Spain. This collaboration represents an important step in Crossroads’ ongoing efforts to expand our presence in the Spanish market”.
The alliance with Crossroads comes at a time of strong growth in the Spanish self-storage market, which is consolidating its position as one of the most relevant in Europe, and will enable the platform to accelerate its expansion in a segment with significant potential. According to CBRE, the combination of high returns, sustained demand and technological adaptation is making self-storage an increasingly attractive asset class for investors and operators.
According to Carlos de la Torre, Head of Real Estate Investment Banking at CBRE, “the self-storage market has established itself as a key sector within alternative real estate segments, with strong short- and medium-term growth prospects and significant investor interest. Our advisory role to Box Infiniti in the search for a financial partner to drive the institutionalisation and expansion of its platform in Spain strengthens our strategic positioning in the sector and places us in a privileged position to lead advisory activity in this segment over the coming years”.
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