Hall & Wilcox advises StoreLocal Group on acquisition by Blackrock

Hall & Wilcox advised the principals of the StoreLocal Group in the sale of a majority interest in their $440 million self-storage enterprise to the world’s largest asset manager BlackRock. StoreLocal, Australasia's fourth-largest operator, which owns and manages more than 40 self-storage assets across Australia, has now secured more than $1 billion in capital for expansion and will continue to be led by the existing management team. 

The multi-asset transaction comprised the sale of each self-storage site, including property transfers as well as sales of units in property owning funds, together with shares in management, operating and IP entities.

Partner Langton Clarke said, ‘The success of this complex transaction reflects the extensive collaborative effort of our multi-disciplinary investment funds team, including specialist funds management, corporate, and property expertise throughout the process. We are delighted to have advised on this significant transaction.’

The multi-disciplinary team, led by partner Langton Clarke, included special counsel Kristy McCluskey and lawyer Matthew Hinde for major funds transaction work; property specialist partner Mark Lyons and lawyer Mandy Wang; and partner Michelle Eastwell and graduate Jordan Potts for corporate expertise. Partners Langton Clarke and Mark Lyons have worked closely with StoreLocal since it was established.

Hall & Wilcox’s investment funds team, HW Funds, is Australia's largest and leading investment funds advisory team, with extensive experience across each stage of the fund life cycle, including major funds transactions.