PITHOS is delighted to announce the successful acquisition of Negogalinos, an independent self- storage operator based in Portet-sur-Garonne, France. This acquisition marks a significant step in strengthening our footprint in the French market.

The facility will be operated by Zebrabox France, a leading international self-storage provider and a joint- venture on behalf of PGIM Real Estate’s European value-add strategy— PGIM Real Estate is the third largest real estate firm globally – and PITHOS. This strategic transaction underscores the growing importance of the French market for our investment strategy and long-term vision.

Negogalinos represents the second acquisition under its JV with PGIM Real Estate, reinforcing its commitment to expansion and sustainable growth in France. By adding three facilities and 18,000 sqm of lettable area to its portfolio, Zebrabox France further enhances its network, providing secure, flexible, and high-quality storage solutions for businesses, homeowners, and individuals alike.

With this milestone, we continue to unlock value in the self-storage sector, scaling operations and delivering innovative solutions in key European markets.

About Pithos

With €330 million in gross assets under management, Pithos is a Swiss-based dedicated real estate investment and management company with a pan-European presence. With more than 20 years’ experience in this sector, Pithos’ team combines entrepreneurial roots with an institutional framework to source the best opportunities and yield superior performance in a fragmented real estate asset class. With a particular focus in operating real estate, through both direct holdings and joint ventures, Pithos currently manages 62

self-storage assets (140,000 sqm) with operations in Switzerland, United Kingdom, Spain, and France with a gross asset value of CHF 350 million. Pithos’ capabilities extend to adjacent real estate vertical market segments encompassing logistics, light industrials, and residential and includes investments in real estate operating businesses. Pithos Capital maintains corporate offices in Geneva, London, Paris, and Luxembourg. For more information, visit: www.pithos.eu

For media enquiries, please contact: rr@pithos.eu

About PGIM Real Estate

With US$212 billion in gross assets under management and administration, PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum1. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

1As of 30 Sept 2024; net AUM is US$132 billion and AUA is US$47 billion.

For media enquiries, please contact: sharan.kaur@pgim.com

About Zebrabox France

Zebrabox France is a joint venture between investment funds advised by PGIM Real Estate and Pithos, dedicated to building a premier portfolio of self-storage assets across France. The venture focuses on acquiring, repositioning, and developing high-quality storage facilities, leveraging opportunities in a growing yet supply-constrained market.

Operating under the leading Swiss-based self-storage brand, Zebrabox, the venture pursues a diverse investment strategy, including the buyout and repositioning of existing assets, conversions of obsolete light industrial and retail properties, and greenfield developments. To date, Zebrabox France has acquired four assets and maintains a strong pipeline of future acquisitions.

For more information, visit: https://www.zebrabox.fr

Advisors

  • Legal: Fairway
  • Notary: Cheuvreux
  • Financing: Evidence Capital Advisory
  • Real Estate: CBRE
  • Technical: Etyo