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Cityvarasto acquires new real estate in Kotka and Espoo

Company News | 04.11.2020

Cityvarasto rents self-storage facilities. In 2015, the company raised over €1M in funding on Invesdor.com. Over the last five years the company has had time to increase the number of its facilities: Cityvarasto had 23 storage locations during the funding round, but now the number is already up to 42.  

Their latest additions are two real estate properties the company acquired in October and November in Kotka and Espoo. The Kotka property is a 2,700 square meter building located in Hovinsaari that has previously served as a warehouse for electronics components. The other property is located in Espoon keskus; the building is home also to a women's gym. The floorspace of the Espoo property is 2,228 square meters.

Cityvarasto plans to begin revedelopment at both properties in late 2020 and open modern self-storage facilities at the locations. The company tells of its newest real estate acquisitions in their press releases (in Finnish only):

 

Edited on 26 November 2020: added the information about the Espoo real estate

Disclaimer

The information contained herein is not meant to be, and it shall not be interpreted as investment advice or a recommendation and investors must neither accept any offer for, nor acquire, any securities unless they do so on the basis of the information contained in the applicable investment material of a target company. Investing in securities of unlisted companies is associated with high risk.

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