Harrison Street and Morningstar acquire 21-property self-storage portfolio

Deal value: Undisclosed

Harrison Street Asset Management and Morningstar Properties acquired a 21-property self-storage portfolio totaling 1.3 million net rentable square feet and over 10,800 units across Texas, North Carolina, South Carolina, Florida, Georgia, Virginia, and Arkansas.

The core investment motivation is to capitalize on strong demographic and economic growth in Sun Belt and high-growth U.S. metropolitan markets, where self-storage demand is rising due to population influx, limited new supply, and robust occupancy trends. Harrison Street and Morningstar are leveraging their established partnership and operational expertise to acquire stabilized, high-quality assets with upside potential. The timing reflects a belief that the self-storage sector is at an inflection point, offering resilient cash flows and value creation opportunities amid broader real estate market uncertainty.