PADLOCK EURO STORAGE FUND I AND PADLOCK PARTNERS UK FUND IV ANNOUNCE LEADERSHIP CHANGE

TORONTO, Feb. 27, 2025 /CNW/ - Padlock Euro Storage Fund I and Padlock Partners UK Fund IV (together, the "Padlock Funds" or the "Trusts") are pleased to announce the appointment of Mr. Iyngaran Muniandy as the new Chief Executive Officer of each of the Trusts, replacing Mr. John Stevenson, effective February 25, 2025.

Mr. Muniandy brings 16 years of investment experience to the position. He currently serves as the Managing Director of European Real Estate at Clear Sky Capital, a privately owned real estate investment management and development company which manages the Trusts. Mr. Muniandy was previously a part of Macquarie's Principal Finance team in London, where he gained extensive expertise in the investment sector.

Mr. Stevenson, who has led the Padlock Funds with distinction, will continue to support the Trusts as a Senior Advisor. His leadership and contributions have been integral to the success of the Padlock Funds, and the Trusts are grateful for his ongoing involvement during this transition and beyond.

"The boards of each of the Trusts welcome Iyngaran to his new role and thank John for his service as Chief Executive Officer," said Marcus Kurschat, a Trustee of the Padlock Funds. "We look forward to building on the Trusts' progress under the new leadership."

The Padlock Funds remain focused on creating long-term value and sustainable growth for their unitholders.

About Padlock Euro Storage Fund I 
Padlock Euro Storage Fund I is an unincorporated investment trust and was established for the primary purpose of investing in a diversified portfolio of income producing commercial real estate properties in the United Kingdom with a focus on self-storage and mixed-use properties. Currently, it has acquired self-storage properties in Bicester, Letchworth, Leighton Buzzard, Wimbledon, Chippenham, Enfield, Huntingdon, Brentwood, Newmarket, Houghton Regis, Brighton, Seaford, Watford, Woking, Southend, Sittingbourne, Gillingham, and Mitcham.

About Padlock Partners UK Fund IV 
Padlock Partners UK Fund IV is an unincorporated investment trust and was established for the primary purpose of investing in a diversified portfolio of income producing commercial real estate properties in the United Kingdom with a focus on self-storage properties. Currently, it has two operating self-storage properties in Newbury and Sidcup. In addition, it owns three development properties in Edmonton, Haverhill, and Chippenham.

SOURCE Padlock Euro Storage Fund I and Padlock Partners UK Fund IV

For further information: For further information, please contact: Iyngaran Muniandy, Chief Executive Officer, Padlock Euro Storage Fund I and Padlock Partners UK Fund IV, [e-mail]; Matthew Collins, Chief Financial Officer, Padlock Euro Storage Fund I and Padlock Partners UK Fund IV, [e-mail]