CapitaLand divests StorHub self-storage business for $185 mil

SINGAPORE (Apr 23): As part of its asset recycling strategy, CapitaLand is divesting its stake in the group of companies that own and manage the group’s self-storage business StorHub to an unrelated third party.

The transaction is based on an agreed value of $185 million for StorHub’s portfolio of properties.

StorHub is one of Singapore’s largest self-storage networks, with a presence in China. Its portfolio comprises 12 storage facilities – 11 in Singapore and one in Shanghai – with a total lettable area of 800,000 sf.

---

Related Stories

• CICT's manager proposes to acquire ION Orchard at $1.85 billion, subject to EGM
• CapitaLand unveils 10 finalists of its global sustainability innovation challenge
• StorHub secures $180 mil sustainability-linked loan from CIMB, UOB

---