Conference Report - From curiosity to capital: Garage Parks make their case

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The Hotel Merkur in downtown Frankfurt proved an apt venue for what may yet be remembered as a watershed moment for a new German asset class.

On 18th September, around 50 participants from Germany and several European countries gathered for the first dedicated conference on drive-up storage and garage parks. The event, hosted by REFIRE with programme direction from Daniel Borger and PR support from Claus Schönberner, was fully booked - and the buzz in the room suggested this emerging sector has moved from curiosity to credible investment opportunity.

As moderator, I watched an audience of operators, investors, financiers and technology providers lean forward in their seats, eager for detail on everything from modular construction to digital platform strategies. The feedback afterwards was emphatic: many spoke of a “first industry gathering” feel, the sense of being present as a professional community takes shape. Several participants pressed for the event to become an annual fixture.

The timing feels right. As Daniel Borger reminded the audience, Germany lags well behind international markets such as the US and UK, where drive-up self-storage has long been established. Yet with occupancy rates for existing facilities running at practically full capacity, demand already outstrips supply. Growth rates of around 20% annually underline the catch-up potential, making the sector one of the most dynamic niches in real estate.

Financing hurdles and sustainability dominated the afternoon. Thomas Rasten of Kreissparkasse Köln confirmed the savings bank had already evaluated several projects—one of the few institutions to do so. BayernLB and other lenders are watching, but until valuation benchmarks mature, their caution keeps a lid on credit. Prof. Dr. Anne Sanftenberg of HTW Berlin warned that valuation standards remain underdeveloped. Without historical transaction data, reliance falls on cash flow models. Each new facility, however, builds the dataset needed for standardised methods—critical to attracting more institutional capital.

Stefan Jung of Trias Real Estate Finance highlighted long approval processes, high equity requirements and the need for alternative capital sources (see associated article in this REFIRE issue). “Yes, garage parks can be financed,” he stressed, “but only if projects are perfectly prepared, all documents in place, and a longer process factored in.”

Automation and digitalisation were flagged as essential for scaling. Sebastian Kerekes of Karibu argued that only fully integrated processes will make garage parks efficient and attractive to investors.

Jochen Rabe of HeyLager echoed this, reminding the audience how highly fragmented the market in Germany is, with most operators running only one or two facilities in their immediate vicinity, and relying on manual processes. His key point was that anyone serious about growth cannot avoid a highly automated digital platform and modular construction - otherwise, expansion becomes costly and inefficient.

Sustainability was another recurring theme. Markus Kelzenberg of DGNB (German Sustainable Building Council) showed how certification and clear standards can tie garage parks to climate goals while unlocking subsidies and market opportunities.

From my personal perspective, equally important was the tone of the discussions: candid, open, and practical. These were not guarded exchanges. Participants wrestled with shared hurdles—how to standardise without erasing site-specific advantages, how to persuade conservative lenders that this is more than “sheds in a field,” and how to balance automation benefits against the capital needed to deliver them. The Hotel Merkur’s reliably excellent catering kept energy levels high, but it was the atmosphere of open exchange that carried the day.

The accompanying exhibition area reinforced the sense of a supply chain in formation. Six companies - from automation to booking and security systems - demonstrated that professionalisation is already underway. The sector may still be fragmented, but the foundations of an investable industry are visible.

Looking ahead, the appetite for follow-up events was unmistakable. Germany’s garage park market is taking its first serious steps toward maturity, and the Frankfurt gathering showed that the expertise, capital and operational know-how exist to turn a niche into a proper industry segment.

For REFIRE, it was a privilege to host such an exhilarating event. The professionalism on display suggests this sector will not stay small for long—and that passive waiting is no longer a viable strategy.