A Polish self-storage company owned by Redefine Properties and Griffin Capital Partners has acquired Top Box.
Stokado has invested an undisclosed amount to buy the self-storage rental company, in a deal that adds 4,500sqm to Stokado’s portfolio of operating assets and a further 4,500sqm to its development pipeline.
In April, Griffin Capital and Redefine Properties acquired a majority stake in Stokado.
Stokado has self-storage facilities in Wroclaw, Poznan, Bydgoszcz, Kalisz, Legnica, Zabrze, Dabrowa Gornicza, Piekary Slaskie and Zielona Gora, and a portfolio of more than 150,000sqm.
The acquisition of the Top Box has added 4,500sqm in Warsaw to Stokado’s current portfolio, which now stands at 25,000sqm of operating assets.
Andrew Konig, CEO at Redefine Properties, said: “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.”
Marek Obuchowicz, partner at Griffin Capital Partners, said: “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, said: “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 150,000sqm. With the support of Redefine Properties and Griffin Capital Partners, our growth can be accelerated even further.”
To read the latest IPE Real Assets magazine click here.
