PLMJ advises Incus Capital on self-storage joint venture

PLMJ has advised Incus Capital, a Spanish asset management consultancy, on a joint venture with Colares Capital. The aim of the joint venture is to develop the self-storage platform 'Control Space' and to lead this sector through the acquisition of new properties and their transformation.

The advice was provided by a multidisciplinary team led by Francisco Lino Dias, partner and co-head of the Real Estate and Tourism practice. The team also included managing associates Luís Filipe Santiago Salema, from the Real Estate and Tourism practice, and Nuno Serrão Faria, from the Corporate M&A practice, as well as associates, also from both practices, Leonor Melo Bento, Mafalda Oliveira Cordeiro and Beatriz Veiga Santos.

The operation involved a substantial initial investment, from which the joint venture acquired the group of properties in Lisbon, Porto and Amadora, managed by Control Space but owned by the fund managed by Insula Capital.

This investment was particularly complex, not only because it involved an activity that is unusual in Portugal, self-storage, but also because of the wide range of contractual relationships required to implement the joint venture.