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BlackRock takes control at $400m StoreLocal as storage sector heats up

Nick Lenaghan

Funds management giant BlackRock has bought a controlling interest in $400 million self-storage operator StoreLocal, as major investors battle for a stake in the booming sector.

The deal, first foreshadowed in the Street Talk column last month, has been finalised as elsewhere in the sector a consortium between South African billionaire Nathan Kirsh and New York-listed Public Storage, one of the world’s biggest operators, presses hard on a $1.9 billion takeover offer for the listed Abacus Storage King.

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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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    Original URL: https://www.afr.com/property/commercial/blackrock-takes-control-at-400m-storelocal-as-storage-sector-heats-up-20250506-p5lx2a