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Nuveen buys Swedish storage firm and aims to take it private

Asset manager's real estate business acquires 30 new assets across Sweden's three biggest cities in a bid to aggressively grow exposure to alternative real estate sectors.

Photo: Self Storage Group

Nuveen Real Estate, the property operation of asset manager Nuveen, is set to buy Swedish self-storage operator 24Storage.

The storage business is Sweden's second largest self-storage operator in Sweden and also a publicly listed REIT (Real Estate Investment Trust) on Nasdaq's First North Growth Market. Nuveen has already acquired 92.4 percent of the shares and also launched a mandatory public tender offer to buy up the existing shares and take full control of 24Storage.

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