Stokado grows in strength. 80 million PLN for the development of warehouses in Kraków and Warsaw

The second largest self-storage operator in Poland has secured 80 million PLN from Bank Pekao. The funds will allow for the development of investments in Kraków and Warsaw and will accelerate the company's expansion in key markets.

Since being acquired by Griffin Capital Partners and Redefine Properties in 2023, Stokado has been rapidly expanding its presence in the growing self-storage sector in Poland. The company is consistently acquiring operating facilities while focusing on the implementation of new projects - the first construction works have begun in Kraków (two locations) and Warsaw (one location). The newly acquired financing will be allocated specifically to these ventures. Stokado has also secured land for further facilities and plans to start construction on another three buildings later this year.

Thanks to building our own facilities, we are certain that we are implementing standards and quality that we can be truly proud of. For example, our first development project, which began construction in July 2024, will be the first self-storage building in Poland to receive BREEAM certification. Our ambition at Stokado is to achieve a market leader position in Poland within the next five years, focusing on key metropolitan areas such as Warsaw, Kraków, Wrocław, and the Tri-City. Securing funds for the development of current investments confirms that both the strategy and the assets of Stokado are attractive to the market and our financial partners - comments Pieter Prinsloo, Chief Executive Officer at Redefine Europe BV.

- We are very pleased that Bank Pekao could support Stokado. Providing financing is an expression of our trust in the company's potential and the sector, which is constantly growing and responding to the real needs of customers. We are pleased that the funds will be used not only for refinancing but, above all, for the further development of investments in Kraków and Warsaw, which aligns with our strategy of supporting innovative and promising projects. We believe that the cooperation with Stokado will bring tangible benefits both for the bank and for the Polish commercial real estate market - comments Dieter Lobnig, Director of the Investment Banking and Real Estate Finance Department at Bank Pekao.

All current Stokado development projects are designed with an emphasis on sustainable development and customer convenience. They will meet BREEAM standards and offer fully contactless service. The facilities will be available 24 hours a day, 7 days a week, and a mobile application will allow customers to manage their rentals and have seamless access to their units.

- We are happy that we have joined forces with Bank Pekao again. This cooperation confirms that capital providers are open to financing this asset class and this type of project. We are deeply convinced of the great potential for dynamic growth in the self-storage segment in Poland - but this growth is not possible without support from financial institutions. The area of self-storage warehouses across Europe is already approximately 16.5 million sqm, while in Poland there are fewer than 200 such facilities. This creates a large field for development, and that is why we are proud that we can work together on shaping this emerging market - says Piotr Fijołek, Co-Managing Partner at Griffin Capital Partners.