PE Firm InfraRed Invests US$50M In HK Self-storage Provider RedBox
Tuesday, April 17, 2018
(ChinaMoneyNetwork by Violet Tang) – InfraRed NF, a Hong Kong-based real estate investment fund, has paid US$50 million for a 90% stake in Hong Kong self-storage provider RedBox Storage Limited, according to an announcement from InfraRed NF.
With the investment, RedBox plans to create a self-storage platform in Hong Kong through a series of direct property acquisitions, InfraRed NF said. RedBox was founded in 2014 by E3 Capital Partners.
“InfraRed NF is looking for locations in core urban areas that can be converted into mini storage,” said Stuart Jackson, CEO of the InfraRed NF. “By the end of this year, the company expects to have a presence in all four first-tier cities in China with 100,000 square meters of total storage space.”
