Pithos has successfully acquired Negogalinos, a self-storage operator in France, enhancing its footprint in the French market through a strategic partnership with PGIM Real Estate.

Target Information

Pithos is pleased to announce the successful acquisition of Negogalinos, an independent self-storage operator located in Portet-sur-Garonne, France. This acquisition signifies a strategic advancement in Pithos' efforts to expand its presence in the French market, solidifying its commitment to growth in a key European sector.

The newly acquired facility will be managed by Zebrabox France, a prominent international self-storage provider formed through a joint venture with PGIM Real Estate, one of the world’s largest real estate firms. This transaction highlights the increasing significance of the French market in Pithos' investment strategy and long-term vision.

Industry Overview in France

The self-storage industry in France has been experiencing robust growth, driven by rising urbanization, increasing consumer demand for flexible storage solutions, and a growing trend