01 Oct 2026
PGIM Real Estate provides €125M financing to U Store It
- RE+D Magazine
The loan was provided through the PGIM Real Estate senior debt platform and is secured against a portfolio totalling 793,000 sq ft (approximately 73,700 sq m), comprising nine modern self-storage facilities.
The properties are located in Dublin, Belfast, Cork, Galway and Waterford, covering key markets across Ireland.
According to James Day, Executive Director, European Senior Debt Originations at PGIM, U Store It has established a diversified position in Ireland’s self-storage market, while the new financing enables PGIM to support a platform with scope for further growth.
He noted that Ireland’s self-storage sector remains at a relatively early stage of development, but demand is underpinned by strong fundamentals, supply remains limited and awareness of the asset class continues to increase.
The transaction forms part of PGIM Real Estate’s activity in the senior lending market for European real estate, at a time when refinancing existing debt represents a significant share of the real estate debt market.