Public Storage

“We are excited about the potential to partner with Abacus Storage King and Ki Corporation, their major shareholder, to enhance the company's customer experience, operating performance and portfolio growth.”

Public Storage is in exclusive due diligence to potentially invest in and partner with Australian storage operator Abacus Storage King, aiming to enhance its customer experience, operating performance, and portfolio growth if the deal proceeds.

“The thing that I highlighted in opening comments around our relationship with Shurgard has been very powerful where we've had an opportunity to, a, learn how many of the tools they've selected from our own platform have been opportunistic for them in a whole host of Western European countries, country by country with many different types of dynamics, but it's been a great opportunity for us to see, understand and work with, again, a platform like that, that could take those kinds of tools that we're developing here in the U.S. and implement them one by one at their election into their own platform.”

Public Storage's European affiliate Shurgard has successfully adopted PSA's operating and technology tools across Western Europe, a relationship PSA credits as validating its international growth strategy and continued platform investment.

“As we demonstrated with Shurgard in Europe, we are uniquely positioned to execute on international growth.”

Public Storage points to its Shurgard investment in Europe as proof of its ability to execute international expansion, using it as precedent for the Abacus Storage King deal.

“In Australia and New Zealand, we are excited about the potential to partner with Abacus Storage King and Ki Corporation, their major shareholder to help enhance the Company's customer experience, operating performance and portfolio growth.”

Public Storage highlights Ki Corporation, the major shareholder of Abacus Storage King, as a prospective partner in enhancing the Australian storage platform post-acquisition.

“Our recently announced proposal to acquire Abacus Storage King, one of the leading owner operators in Australia and New Zealand is a great example of our capabilities at play.”

Public Storage frames its proposed acquisition of Abacus Storage King as a template for exporting its U.S. operating platform into international self-storage markets.