In June 2003, Arcapita formed a joint venture with Shurgard Self-Storage which developed 38 self-storage assets, in the United Kingdom, France, the Netherlands, Denmark, Sweden and Germany. Shurgard Europe is a well-established developer, owner and operator of self-storage facilities in Europe. Shurgard Europe oversaw the construction management, design services and functions for the portfolio and played a key role in the marketing and lease-up of the properties under the Shurgard brand name. In March 2011, Arcapita and its investors sold their holding to their joint venture partner, Shurgard Europe.