Dechert Advises Shurgard on its Acquisition of Pickens Self-Storage in Germany

Dechert advised Shurgard, the largest developer, owner and operator of self-storage facilities in Europe, on its acquisition of Pickens, a leading provider of self-storage space in northern Germany. This deal represents one of the largest self-storage transactions in the European market in 2023.

Shurgard’s growth strategy aims to expand their business operations across the “Big Seven” cities in Germany. The acquisition of Pickens adds six properties to Shurgard's portfolio, enhancing their standing in Germany to become the second-largest both in terms of footprint and property count.

Dechert has represented Shurgard on numerous corporate transactions and real estate acquisitions since 2013 and most recently, in 2023, advised on the acquisition of self-storage operator TopBox.

The Dechert team advising Shurgard included Dr. Olaf Fasshauer (FRE);Giovanni Russo, Carina Klaes-Staudt, Dr. Karl von Rumohr, Gottfried Graf von Bassewitz, Florian Leitsbach, Alexa Serafin, Georg Littmann and Anna Ziegler (all C&S); and Clemens Graf York and Thirith von Doehren (antitrust).

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our 1,000+ lawyers across 21 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.