Polish self-storage company Stokado, owned by Redefine Properties and Griffin Capital Partners, has acquired Top Box, a self-storage rental company in Poland.
As a result, Stokado has added 4,500 sqm to its portfolio of operating assets and further 4,500 sqm to development pipeline.
The acquisition of the Top Box has added 4,500 sqm in Warsaw to Stokado’s current portfolio, which now stands at 25,000 sqm of operating assets. The building is newly completed with an excellent location next to a main arterial road and in a densely populated area of Warsaw.
Andrew Konig, CEO at Redefine Properties, says: “Redefine’s acquisition of Stokado provides us with a platform to unlock growth opportunities in the Polish self-storage market, which remains in its infancy and offers plenty of upside potential. Stokado’s newest acquisition of Top Box will ensure that the Polish property venture is well poised to capitalise on strong demand for institutional grade storage space in attractive areas like Warsaw. This transaction will contribute to ensuring Stokado wins even greater market share in the Polish self-storage market where we see plenty upside potential.”
Marek Obuchowicz, Partner at Griffin Capital Partners, says: “Stokado is the latest investment platform in our portfolio through which Griffin Capital Partners has entered the young and promising self-storage industry, diversifying its investment portfolio. We are very pleased with the transaction announced today, as it marks the company’s entrance into the Warsaw market and aligns perfectly with Stokado’s strategy of consistently strengthening its market position in major Polish cities.”
Klaudiusz Bechcicki, CEO at Stokado adds: “The acquisition of the Top Box marks the next stage in our development. We aim to strengthen our presence in major Polish cities and to develop further 150,000 sqm. With the support of Redefine Properties and Griffin Capital Partners, our growth can be accelerated even further.”
In April 2023, Griffin Capital Partners, together with the South African-based Real Estate Investment Trust Redefine Properties acquired a majority stake in Stokado. Griffin Capital Partners acts as the platform’s asset manager, while Stokado’s founders will remain involved as minority shareholders and the company’s management team.
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