Redefine Properties and Polish private equity company Griffin Capital Partners have jointly acquired Stokado, Poland’s second-biggest self-storage operator, giving the former an instant foothold in that market. Redefine and Griffin set up a venture that is the acquiring entity, which will own a majority stake in Stokado. Earlier this year, Redefine notified shareholders of its intentions to diversify its portfolio by creating a self-storage platform with scale.
Growth potential Speaking about the deal, Redefine CEO Andrew Konig said with Poland’s economy showing “exciting growth potential”, there is plenty of upside in its self-storage market. “This deal leverages the strengths of all parties and opens the door to expansion, diversity and growth in line with Redefine’s focus on strategically allocating capital into areas with upside at low risk,” Konig said.