BlackRock, through funds managed by its real estate business, has acquired a majority interest in the privately owned nationwide self-storage platform StoreLocal.
Founded in 2010, StoreLocal is Australasia’s fourth-largest operator, owning and managing more than 40 self-storage assets in Australia. The company implemented pioneering technology in 2019 and has since become a leading market player operating a 24/7 unmanned store model. Together with proprietary data analytics and a deeply localized marketing strategy, StoreLocal has delivered strong operating margins and an award-winning built product.
Now with more than A$1 billion ($642 billion) of secured capital, the group’s objective is to further drive the company’s growth through acquisitions and developments as well as expansion of the third-party management platform and brand, to create more than a A$2-billion ($1.3 billion) self-storage platform in Australia.
“During the past 15 yea
