Invista secures a US$42.7m for Big Orange Self Storage Fund 1
Invista has secured new equity investment of US $42.7m from a US institutional investor for the Big Orange Self Storage Fund.
The new equity will be used to grow its self storage assets in Asia.
Invista bought the fund from Babcock & Brown, the Australian investment house that went into administration, in April.
The fund was established in 2006 and supplies self storage, mini storage and storage management solutions in Hong Kong and Singapore. It currently owns circa 35,000 sq m of self storage space across five sites.
It is currently owned 100% by Invista Real Estate International Fund which, in turn, is 50% owned by Invista.
Duncan Owen, chief executive, said: “This substantial new investment into the Big Orange Self Storage Fund is a significant step forward for Invista’s Asian focused International Fund (IREIF) and Invista REIM as the fund manager and co-investor. It underpins our strategy to continue to both grow and business by geography and fund type. The new equity will provide BOSS with greater purchase new self storage assets throughout Asia and support our ambitions for its growth while consolidating its position as a leading specialist fund in the region."