Babcock & Brown Agrees to Acquire Space Maker
Babcock & Brown Ltd., Australia's second-largest investment bank, and its fund Babcock & Brown Global Partners agreed to buy Space Maker, a U.K. self-storage operator, for approximately 63 million pounds ($126 million).
The acquisition is consistent with Babcock & Brown's strategy of building an international portfolio of self-storage assets,'' Eric Lucas, global head of real estate at the firm, said today in an e-mailed statement.
Following the completion of the acquisition, Babcock & Brown will own 37 self-storage properties in North America, Asia and the U.K., the statement said.
Courtesy of Bloomberg.com