Morningstar and Harrison Street Form Alliance With 2Guys Storage

09/16/2008

Morningstar Properties, operator of Morningstar Mini-Storage, and Harrison Street Real Estate Capital have formed an alliance with 2Guys Storage to invest in self-storage properties in the Southeast. The group plans to acquire, develop and redevelop a portfolio of assets valued at more than $100 million over the next three to five years.

Morningstar, based in Matthews, S.C., operates storage facilities in the Carolinas, Georgia and Texas as well as marinas throughout the Southeast. In March 2007, the company formed a joint venture with Chicago-based private-equity firm Harrison Street to develop and acquire additional self-storage and marina assets.

2Guys Storage operates and develops real estate properties and specializes in self-storage.

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