United Stor-All Forms JV With Harrison St. REC
Copyright 2014 by Virgo Publishing.
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Posted on: 08/03/2006



 
Self-storage operator United Stor-All Centers has formed a joint venture with Harrison Street Real Estate Capital LLC of Chicago to target the acquisition, development and redevelopment of storage properties in markets throughout the United States. The companies plan to develop and acquire a bulk of assets valued at more than $300 million during the next three years. The union has already acquired an 800,000-square-foot, 6,500-unit, nine-property self-storage portfolio with assets in Florida, New Jersey, New York, Pennsylvania and Virginia. The portfolio was purchased for $90 million.
 
United's current portfolio spans the eastern United States, with a concentration in the Northeast and Florida. The company continues to expand in current markets through acquisitions and development, as well as entry into select new markets via partner relationships. For more information, visit www.unitedstorall.com.
 
Harrison Street is a real estate private equity firm founded in 2005 by Christopher Merrill, formerly a partner of one of the largest real estate investment advisors and the Galvin Family of Chicago, the founding family of Motorola. The company has assembled a team of real estate professionals with more than 50 years of combined experience. For more information, visit www.harrisonst.com.