- Costockage’s Mickael Nadjar and Adam Levy-Zauberman will continue to run the company
- Ardian is a private investment house based in Paris
- The firm manages $160bn of assets
Ardian has completed the acquisition of Costockage, a French self-storage company. This is Ardian’s first self-storage investment.
Paris-based Costockage operates 10 centres all over France.
Mickael Nadjar and Adam Levy-Zauberman, Costockage’s founders, will continue to run the company to develop the business.
Ardian’s real estate team will help Kostok, Costockage’s self-storage center operating arm, to expand its footprint. This next stage of growth will include building acquisitions, transformation of distressed real estate and acquisition of ongoing self-storage operations, according to a release.
“We believe it is the right time to enter this sector as it is at a nascent stage in France compared to other mature markets such as the US and the UK,” said Stéphanie Bensimon, member of the executive committee and head of real estate, Ardian. “The sector’s low-emissions fundamentals were also key in our decision making.”
Paris-based Ardian is a private investment house that manages $160 billion of assets.
No financial details of the transaction were disclosed.