PGIM Real Estate and Pithos Capital have launched a joint venture in France to acquire and reposition self-storage assets, leveraging market growth potential and existing under-supply.
Information on the Target
PGIM Real Estate and Pithos Capital have established a joint venture to acquire and reposition self-storage assets across France. The initiative falls under PGIM Real Estate’s European value-add strategy, targeting significant growth opportunities within the self-storage market.
As a prominent figure in real estate investment, PGIM Real Estate represents the $212 billion real estate arm of PGIM, making it the third-largest real estate firm globally. This venture is part of a broader strategy, where PGIM Real Estate has secured over €600 million in acquisitions in 2024, predominantly in logistics, living sectors in major European cities, healthcare in the UK, and hospitality in Southern Europe.
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Industry Overview in France
The self-storage industry in France is witnessing considerable growth, driven by increasing urbanization and changing lifestyle patterns that necessitate additional storage solution
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PGIM Real Estate
invested in
self-storage assets
in 2024
in a Joint Venture deal
Disclosed details
Transaction Size: $645M