180 Development, based in Gilbert, Ariz., is responsible for sourcing and securing acquisition and development opportunities in the Southwest and providing property-management services for those investments. The company’s principals include Jeff Helgeson, Larry Hoffmann, Tim Jones and Jeff Mikus, all former employees of Shurgard Storage Centers Inc. The team has many years of experience in self-storage development, construction and operation. For details, visit 180developmentservices.com.
HSRE and Morningstar formed a joint venture to develop properties in the Southeast earlier this year. To date, they have acquired nine facilities in the Carolinas and Georgia with a total of 3,600 units and 444,000 square feet.
Morningstar, based in Matthews, N.C., is a vertically integrated developer, builder and operator of specialty real estate types across the Southeast. The company extends its brand to the Southwest with this venture. Since 1981, it has developed and operated nearly 70 self-storage projects totaling more than 5.5 million square feet. For information, visit www.mstarproperties.com.
HSRE's model is to provide equity capital at the property level to developers and operators in the specialty sectors of the real estate market. These sectors principally include self-storage, marinas, student housing, senior housing / assisted living, medical office/healthcare and related parking. The company’s inaugural fund has already entered seven strategic joint ventures and has acquired or is in the process of developing 40 properties worth approximately $400 million. For more information, visit www.harrisonst.com.