Goldman Sachs Group Inc (GS.N) will invest 600 million reais ($184 million) in Brazilian storage company Metrofit over the next 6 years, betting on a recovery from the harshest recession since the 1930s, a company executive said on Friday.

Metrofit, founded in 2012, is a joint venture between Brazilian real estate company TRX (TRXL11.SA) and U.S. company Metro Self Storage. The terms of the agreement with the U.S. investment bank were not disclosed.

The self storage business is growing in Brazil, despite the recession. Metrofit plans to build up to 10 storage sites a year in different state capitals, TRX’s chief executive officer Luiz Augusto do Amaral said.

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