Morningstar-Harrison Street 21 Facility Portfolio Acquisition

Deal value: $210M

Harrison Street acquired a portfolio of 21 self-storage facilities (1.3 million sq ft, 10,800+ units) in seven states from Morningstar Properties.

The core investment motivation is to capitalize on strong demographic and economic growth in Sun Belt and top metropolitan markets, where self-storage demand is rising due to population migration, limited new supply, and increasing consumer mobility. Harrison Street and Morningstar believe the sector is at an inflection point, with fundamentals favoring stable cash flow and long-term value creation. The strategic purpose is to expand their footprint in high-growth regions and leverage operational expertise for enhanced performance.