• 17 further sites expected to be operational or acquired by the end of year; aim is to operate +50 sites by 2027
  • Management team strengthened with the appointments of Steffen Kluners and Malte Behrens as Chief Investment Officer and Chief Financial Officer respectively


Frankfurt am Main, 22 April 2024 – SpaceGenie today announces the inauguration of its first facility as the company expands its operations to establish one of Germany’s most extensive self-storage networks. Located in Hassloch, a municipality within the metropolitan region of Mannheim, the new 1,700 square-meter ‘drive-up’ facility caters to both individual and corporate storage needs.

SpaceGenie plans to launch six additional locations during 2024 and is currently in exclusive negotiations to acquire three more sites. Additionally, the company is in advanced negotiations for the acquisition of eight sites, setting it on a growth path to become the leading provider of drive-up facilities in Germany. SpaceGenie was established in late 2022 by the alternative asset management firm, Intriva Capital.

The self-storage sector in Germany benefits from positive tailwinds including urbanization, escalating residential property prices, businesses scaling back on physical spaces, and an increase in online sellers on platforms like eBay and Amazon. Yet, Germany’s market is underserved with only 320 facilities, significantly fewer than the 2,060 in the United Kingdom as of 2022. This scarcity of supply fosters rapid occupancy, advantageous yield management opportunities, and strong, stable cash flows with low turnover rates. To address this underserved and increasing demand, SpaceGenie aims to develop and manage 50 locations by 2027.

SpaceGenie is also strengthening its leadership team with the addition of Steffen Kluners and Malte Behrens. Steffen, joining as Chief Investment Officer, will oversee acquisitions. Prior to joining SpaceGenie, Steffen was a Director at the investment firm MARCOL where he spearheaded the launch and expansion of a self-storage investment strategy in Germany. He started his career at Blackstone and PIMCO where he worked on several complex real estate transactions in Germany. Malte, formerly a senior finance executive at DPD Logistics and Siemens, will take on the role of Chief Financial Officer, managing all financial and accounting operations.

SpaceGenie is committed to offering a convenient and efficient service and will shortly be launching its website featuring a portal that allows customers to find, reserve, and access storage units within five minutes, a first in the German market.  An accompanying mobile app, set to launch in the next quarter, will enable customers to manage their storage needs remotely.

In support of its growth strategy, SpaceGenie has developed a deep network with local banks, allowing the financing and development of new sites at attractive rates.

The Hassloch facility has been nominated for a Gold rating by the German Sustainable Building Council (DGNB), underscoring its commitment to sustainability from construction through to dismantling. Plans are underway to achieve similar certifications for future sites as the company’s platform evolves.

Joe Hare, Director at Intriva Capital, commented, “Despite our initial confidence, the strong demand for our first facility in Hassloch has exceeded our expectations, with over 25% of the space already leased at rates above our forecasts. I am delighted to welcome Steffen and Malte, who bring deep expertise to our operations as we scale up. We are also looking to expand our team with strategic hires throughout 2024 to meet Germany’s growing need for self-storage solutions.”

Steffen Kluners, Chief Investment Officer at SpaceGenie, noted, “The German Self-Storage market is severely undersupplied and benefits from supportive secular growth trends. SpaceGenie pursues a differentiated strategy by focusing on sustainable drive-up parks and we are committed to become the dominant player over the next two years in Germany.”