Stokado, the second-largest operator in the rapidly growing Polish self-storage market, owned by Redefine Properties (JSE: RDF), Griffin Capital Partners, and the company’s founders, has secured PLN 80 million in debt financing from Bank Pekao S.A. The funds will be used to partially refinance invested equity and, more importantly, to support the development of ongoing projects in Kraków and Warsaw.

Since its acquisition by Griffin Capital Partners and Redefine Properties in 2023, Stokado has been rapidly expanding its footprint in Poland’s emerging self-storage sector. The company has been actively acquiring existing facilities while focusing primarily on development of new projects – first constructions were launched in Kraków (two locations) and in Warsaw (one location). The newly secured financing will be allocated to these developments. Stokado has also secured land bank for further developments and plans to start construction of another three buildings this year.

Pieter Prinsloo, Chief Executive Officer of Redefine Europe BV, says: “Developing our own facilities allows us to implement the standards and level of quality of which we are particularly proud. For example, our first development project, which broke ground in July 2024, will be the first self-storage building in Poland to achieve BREEAM certification. Stokado’s ambition is to become the market leader in Poland within the next five years, focusing on key metropolitan areas such as Warsaw, Kraków, Wrocław, and the Tricity. The financing we have secured for our ongoing developments confirms that both our strategy and assets are attractive to the market and to our financial partners.”

Dieter Lobnig, Head of the Investment Banking and Real Estate Financing Department at Bank Pekao S.A., says: “We are delighted that Bank Pekao was able to support Stokado. Providing financing demonstrates our confidence in the company's potential, as well as in a sector that continues to grow and respond to customers' needs. We are glad that the funds will be used for more than just refinancing, but most importantly, for further development of investments in Krakow and Warsaw. This is in line with our strategy of supporting innovative and forward-looking projects. We believe that our cooperation with Stokado will bring tangible benefits to both the bank and the Polish commercial real estate market.”

All of Stokado’s current development projects are designed with a strong focus on environmental sustainability and customer convenience. They will meet BREEAM standards and offer fully contactless service. Facilities will be accessible 24/7, with a mobile app enabling customers to manage their rentals and access their units seamlessly.

Piotr Fijołek, Co-Managing Partner at Griffin Capital Partners, says: “We are pleased to once again partner with Bank Pekao S.A. This collaboration confirms that capital providers are open to finance this asset class and type of projects. We have strong conviction in the dynamic growth potential of the self-storage segment in Poland – but this growth would not be possible without the support of financial partners. Self-storage space across Europe already totals approximately 16.5m sqm, while there are less than 200 such storage facilities in Poland^[1].This presents substantial room for growth, and we are proud to be working together to help develop this emerging market.”

^[1]FEDESSA, European Self Storage Industry Report 2024