A consortium comprising APG Investments Asia Ltd. (the regional investment manager for the largest pension provider in the Netherlands, with AUM in excess of €553 billion [$556.7 billion]), and CapitaLand Investment (CLI), has acquired Extra Space Asia (ESA), a self-storage owner-operator in Asia.
ESA owns operates approximately 70 properties across key Asian markets of Singapore, Malaysia, Taiwan, Japan, Hong Kong and South Korea, with a combined leasable area in excess of 1 million square feet.
ESA was founded in 2007 with two facilities and has since grown into one of the region’s largest self-storage businesses with facilities across six Asian gateway cities — Hong Kong, Kuala Lumpur, Seoul, Singapore, Taipei and Tokyo — with portfolio occupancy of more than 90 percent and more than 70 percent of its net property income generated in Singapore. The portfolio consists of modern and high-quality assets strategically located in high-density cities in strong cat
