PGIM’s real estate investment group provides $230M in financing for national self-storage portfolio

NEWARK, N.J., September 9, 2026 - PGIM's real estate investment group has provided $230 million in floating-rate financing on behalf of its core plus lending strategy to affiliates of Madison Capital Group and funds and accounts managed by Cerberus Capital Management to refinance a national self-storage portfolio.

The financing is secured by a nationally diversified portfolio of 28 high-quality self-storage properties totaling approximately 2.5 million square feet and more than 16,000 storage units. Go Store It benefits from geographic diversification across attractive U.S. markets, strong operating fundamentals, and continued consumer demand for self-storage driven by demographic trends, household mobility, and business storage needs. The portfolio is strategically positioned across 10 different states and 16 different MSAs and is concentrated in attractive Sun Belt markets. The portfolio features a blend of climate-controlled storage, traditional drive-up units, and vehicle storage offerings, serving a broad range of residential and commercial users.

"Self-storage continues to be one of the most resilient property sectors, supported by durable demand drivers and strong operating fundamentals across U.S. markets," said Trace Wilson, executive director at PGIM's real estate investment group. "We are pleased to provide financing for a high-quality, nationally diversified portfolio sponsored by experienced institutional owners. This transaction reflects our conviction in well-located self-storage assets and our ability to deliver flexible capital solutions for high-quality sponsors across changing market environments."

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing $1.5 trillion in assets,* 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 alternatives. With 1,400+ investment professionals across 41 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.

ABOUT MADISON CAPITAL GROUP

Headquartered in Charlotte, North Carolina, Madison Capital Group is a privately held, vertically integrated real estate investment and development firm focused on the multifamily, self-storage, retail, and marina sectors. The company operates through several subsidiaries including Go Store It Self-Storage, Madison Communities, Madison Commercial, and Madison Marinas. For more information, visit madisoncapgroup.com.

ABOUT CERBERUS CAPITAL MANAGEMENT

Founded in 1992, Cerberus is a global alternative investment firm with approximately $72 billion in assets across complementary credit, real estate, and private equity strategies. The firm invests across the capital structure where it believes its integrated investment platforms and proprietary operating capabilities can help improve performance and drive long-term value. Cerberus' tenured teams have experience working collaboratively across asset classes, sectors, and geographies as they seek to achieve strong risk-adjusted returns for investors. For more information, visit cerberus.com.

*As of June 30, 2026. Assets are rounded to the nearest full number.

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.

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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.

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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.

The brand "PGIM" (and the formerly used brand "PGIM Real Estate") encompass both (1) a real estate fund advisory business headquartered in Newark, New Jersey, which operates as a business unit of PGIM, Inc., an SEC-registered investment advisor organized as a New Jersey corporation, formerly under the name "PGIM Real Estate," and (2) a commercial real estate debt origination and asset management platform which operates through a separate, affiliated legal entity known as PGIM Real Estate Finance, LLC ("PGIM REF"), a Delaware limited liability company. Several officers of PGIM REF are also associated with PGIM, Inc., and, from time to time, may provide services to PGIM in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF. PGIM Real Estate Finance, LLC is registered with the California Department of Financial Protection & Innovation under license number 60DBO-105210. Loans made or arranged pursuant to a California Finance Lenders Law license.

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