News Article Griffin Capital Partners investment Poland Redefine Properties self-storage Stokado Top Box
by Property Forum | Investment

Stokado, a company owned by Redefine Properties and Griffin Capital Partners, has acquired Top Box, a self-storage rental company. As a result, Stokado has added 4,500 sqm to its portfolio of operating assets and a further 4,500 sqm to the development pipeline.

Stokado has established itself as one of the leading self-storage companies in Poland, storing the goods of private and B2B customers in self-storage facilities in Wrocław, Poznań, Bydgoszcz, Kalisz, Legnica, Zabrze, Dąbrowa Górnicza, Piekary Śląskie and Zielona Góra. The company is now focusing on strengthening its position in the major Polish cities in order to become the self-storage market leader in Poland with a portfolio of more than 150,000 sqm. 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 of 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 a 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.