LONDON, 16 June 2026 – PGIM has advanced a £48 million senior loan to the UK self-storage platform Space Station, refinancing and upsizing its existing debt facility with the company.

Completed on behalf of PGIM’s real estate senior debt platform, the transaction builds on PGIM’s existing relationship with Space Station and reflects its continued support for the platform’s growth strategy. The upsized facility provides Space Station with additional capital capacity to pursue further acquisitions, development opportunities and asset-level investment, supporting the next phase of growth.

Space Station is one of the UK’s leading self-storage platforms, and since partnering with institutional capital five years ago, Space Station has grown from five owned assets to 17, while also adding third-party management contracts. This expansion has broadened its national footprint and strengthened its position in the UK self-storage market.

PGIM has been lending against European self-storage for over 10 years including assets in the UK, Ireland, Netherlands, Sweden, Denmark and Finland. 

“Space Station has assembled a high-quality self-storage platform with a strong operating track record, and this expanded financing reflects our continued confidence in both the business and the sector”, said James Day, executive director, European Senior Debt Originations, Real Estate at PGIM. “Self-storage remains a key thematic focus for PGIM across the UK and Europe, supported by resilient demand dynamics, limited supply and long-term growth characteristics.

“Through our senior debt strategy, we remain focused on providing flexible capital solutions backed by defensive real estate and experienced operating partners in sectors with strong structural fundamentals.”

“PGIM has been an important financing partner to Space Station and we are delighted to extend and expand that relationship through this refinancing, said Kevin Prince, CEO at Space Station. “Their continued support reflects confidence in both the quality of the portfolio and the strength of the platform we have built together over recent years.

“This enhanced facility provides the capacity to continue executing our growth strategy in a disciplined way through selective acquisitions, development and targeted investment across our existing stores. Demand fundamentals within UK self-storage remain compelling and we remain focused on creating long-term value through operational excellence and disciplined capital allocation.”

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU) with US$1.4 trillion in assets under management.² PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and other retail investment vehicles. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

¹As of 31 March 2026, AUM reflected as gross. Net AUM is US$189 billion and AUA is US$50 billion. PGIM is the second-largest real estate investment manager (out of 63 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published November 2025. This ranking represents AUM as of 30  June 2025. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.

²As of 31 March 2026. 

The information contained herein is provided by PGIM, the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. Please visit Important Disclosures for additional information, including details on non-U.S. jurisdictions. This information is for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation where prohibited. Certain information has been obtained from sources that PGIM believes to be reliable as of the date presented; however, PGIM does not guarantee its accuracy or completeness. Information may be changed without notice, and PGIM has no obligation to update it. PGIM and its affiliates may develop and publish research that is independent of and different from the information contained herein. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. © 2026 Prudential Financial, Inc. (PFI) and its related entities. All rights reserved.