Bird & Bird Advised Pithos On Strategic Partnership With PGIM Real Estate To Expand Self-Storage Portfolio In Spain

Bird & Bird advised Pithos on strategic partnership with PGIM Real Estate to expand self-storage portfolio in Spain

Bird & Bird advised Pithos on its partnership with PGIM Real Estate, the world's third largest real estate investment firm, to build out a portfolio of self-storage assets in Spain.

The joint venture, which will operate under the Swiss-based self-storage brand Zebrabox, will initially seed a portfolio of 10 assets across Catalonia, with a further seven acquisitions in its secured pipeline in Catalonia, Andalusia and b focusing on maximising occupancy through high-quality refurbishment and active asset management.

This Spanish expansion follows PGIM and Pithos' first collaboration established in 2024 to acquire self-storage assets under the Zebrabox brand in France.

As with France, PGIM and Pithos aim to bridge the existing gap in institutional-grade self-storage supply, where both markets are characterised by persistently under-supply, strong demand and significant growth potential.

The Bird & Bird's Madrid team led by José de Santiago Forn (Partner), with Montserrat Turrado (Partner), and Jorge Gómez López (Associate), Ángela de la Iglesia García (Associate), María De Pineda Alabart (Associate), and Virginia Santos Navarro (Associate).

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