PITHOS and PGIM Real Estate acquire “Mi Espacio” in Seville, expanding its Spanish brand into Southern Spain

PITHOS and PGIM Real Estate, through their Zebrabox Spain joint venture, have acquired Mi Espacio, a self-storage facility in Seville. The deal expands Zebrabox Spain’s footprint into Southern Spain.

Mi Espacio offers 1,270 sqm of net lettable area with 24/7 customer access, serving both residential and business customers. Established in 2007, it is a well-performing asset with a +90% occupancy rate that reflects its strong market position and operational track record.

Located 10 minutes from the centre of Seville (the capital of Andalusia and the largest city in Southern Spain) the facility sits in a prime micro-location within one of the industrial areas closest to the city centre. Surrounded by established residential neighborhoods and green spaces, it has convenient access to a large and diverse customer base.

The acquisition advances Zebrabox’s ambition to become a leading self-storage operator across Southern Europe.

ABOUT PITHOS

With €350 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: contact@pithos.eu

ABOUT PGIM

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.

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

ABOUT ZEBRABOX SPAIN

Zebrabox Spain 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 Spain. 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 light industrial and retail properties, as well as greenfield developments.

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

ADVISORS

• Legal: Riba-Vidal and Uria Menendez
• Technical: Arcadis
• Valuation: Savills