BoxDe­po is offer­ing a € 1,000,000 bond to sup­port its expan­sion. The com­pa­ny offers a nota­rized lien on one of its self stor­age prop­er­ties to pro­vide fur­ther guar­an­tee to coin hold­ers. This 112 unit facil­i­ty based in Nuoro has demon­strat­ed con­sis­tent rev­enues above €100,000 a year for the past four years and has the poten­tial to con­sid­er­ably grow rev­enues through expan­sion allowed by local zoning.

BoxDe­po is a self-stor­age oper­a­tor engaged in devel­op­ment across sev­er­al Euro­pean coun­tries. In Italy, it ful­ly owns 21 build­ings in the north and cen­ter of the coun­try through its prop­er­ty com­pa­ny, I Estate S.R.L., and oper­ates them through its oper­at­ing com­pa­ny, SB-Italy S.R.L. The BoxDe­po brand is ful­ly owned by I‑Estate S.R.L.

The Nuoro build­ing includ­ing all its par­ti­tion­ing and secu­ri­ty sys­tems is ful­ly owned by I‑Estate S.R.L. and lien-free. Annu­al gross rev­enue from this facil­i­ty in 2025 is expect­ed to reach € 120,000, which is pro­ject­ed to yield a net pre-tax cash flow of € 110,000 after direct oper­at­ing and main­tainance costs. Pro­ceeds from the issuance of this bond will be used to con­vert prop­er­ties already pur­chased in cities such as Bres­cia, Livorno, Verona, Rome, Mod­e­na, Ancona and Turin.

The fund­ing from this bond issuance will be uti­lized to accel­er­ate the devel­op­ment of new self-stor­age facil­i­ties in build­ings BoxDe­po has already pur­chased in Italy. The cap­i­tal will be used to pre­pare the build­ings, cov­er­ing repairs, renewals, and the pur­chase of doors, par­ti­tions, and the tech­nol­o­gy retro­fits required for remote oper­a­tion. It is esti­mat­ed that €1,000,000 can sup­port the con­ver­sion of up to 4,000 square meters of our owned build­ings. This will sup­port the retro­fitting of port­fo­lio facil­i­ties in Rome, Mod­e­na, Turin, Verona, Ancona and Phase 2 devel­op­ments in Livorno and Milano/Buccinasco.

Boxde­po was born with the idea of apply­ing the newest avail­able tech­nolo­gies to a nation­al chain of unmanned Self Stor­age facil­i­ties that could pen­e­trate both the Ital­ian urban and provin­cial mar­kets. The com­pa­ny launched its oper­a­tions in March 2024 with its first facil­i­ty in the out­skirts of Milan. To date, Boxde­po has pur­chased 21 build­ings, with 12 already con­vert­ed and operational.

BoxDe­po has also launched facil­i­ties in sev­er­al Ital­ian cities, includ­ing Rome, Como, Bus­to Arsizio, Par­ma, Bres­cia, Livorno, and Pisa. All of these facil­i­ties are exceed­ing busi­ness plan expec­ta­tions, with some of the small­er ones already at full occu­pan­cy and oth­ers above 60%. The Nuoro facil­i­ty, which was acquired from anoth­er oper­a­tor at full occu­pan­cy, is the only one not devel­oped by Boxde­po itself. Due to its sta­ble, mul­ti-year rev­enue his­to­ry, the com­pa­ny is propos­ing this asset as a lien for the col­lat­er­al­ized loan.

All of BoxDe­po’s build­ings are ful­ly owned by I Estate S.R.L.. This com­pa­ny then rents the build­ings to its oper­at­ing com­pa­ny, SB-Italy S.R.L.. Both of these com­pa­nies are con­trolled by the same investors. As of this bond issuance both com­pa­nies have been self fund­ed by its investors with no exter­nal debt.

Ronald Facchinet­ti — CEO

Ronald con­tributed to import the Self Stor­age busi­ness mod­el from the US to Italy in 1998. In the year 2000 he found­ed Self Stor­age Part­ners, a con­sult­ing com­pa­ny that was instru­men­tal to the devel­op­ment of 30 Self Stor­age facil­i­ties through­out Italy. He co-found­ed a 7 facil­i­ty fran­chise 1Spazio in 2018 and became CEO of BoxDe­po in 2023 which is devel­op­ing an esti­mat­ed 80 site fran­chise span­ning Italy, Spain, Por­tu­gal and oth­er coun­tries in east­ern block. Ronald has pri­or sig­nif­cant mar­ket­ing expe­ri­ence from com­pa­nies such as Unilever and ecom­merce start ups both in Italy and inter­na­tion­al­ly. MBA Colum­bia Busi­ness School, BA in phi­los­o­phy from Tufts U.

The man­age­ment com­pa­ny, SB-Italy S.R.L., reached oper­at­ing break-even in Novem­ber 2024, 9 months after start of oper­a­tions. The com­pa­ny expects its rev­enues for 2025 to reach € 1 mil­lion and poten­tial­ly sur­pass € 2 mil­lion in 2026 if the cur­rent invest­ment sched­ule for new devel­op­ments remains on track.

Growth Pro­jec­tion

The com­pa­ny antic­i­pates devel­op­ing 50 facil­i­ties across Italy with­in the next four years by expand­ing its busi­ness mod­el into provin­cial towns in the cen­ter-north regions. The 21 facil­i­ties in the cur­rent port­fo­lio are pro­ject­ed to gen­er­ate up to € 5 mil­lion per year once they achieve full occu­pan­cy, which is expect­ed by the end of 2027 if con­ver­sion invest­ments pro­ceed on schedule.