Self-Storage Operator Morningstar Properties Appoints New Chief Financial Officer

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Morningstar Properties LLC, which operates 27 self-storage properties under the Morningstar Mini-Storage brand, has appointed Wesley G. Carter as its new chief financial officer (CFO). Carter joined the company in 2012 as vice president of finance, responsible for sourcing and executing capital transactions. He has 18 years of financial, consulting and operational experience.

Morningstar-Mini-Storage-Wes-Carter***Prior to joining Morningstar, Carter managed the financial and operational functions of a real estate development company that also owns and manages self-storage facilities. He began his career with Andersen Consulting (now Accenture), and served as a relationship manager at both Banc of America Securities and Wachovia Securities, structuring and executing corporate secured and unsecured lines of credit for real estate investment trusts and real estate opportunity funds.

“Wes knows our company and the storage sector well, and he delivers the added benefit of having worked extensively in specialized areas of finance that are vital to our business,” said Dave Benson, president and CEO of Morningstar Properties. “His skills and insight will be invaluable to Morningstar’s management team.”

Carter takes over as CFO from Phyllis McArthur, who held the position since 1992 and will remain with the company as executive vice president. She will also continue as a member of the investment committee for Morningstar’s Blue Doors Storage Fund I LP, and help identify new opportunities for acquisition and development.

Carter received a bachelor’s degree in chemistry from Duke University and an MBA from The University of North Carolina at Chapel Hill.

Founded in North Carolina in 1981, Morningstar Properties is a vertically integrated real estate developer, owner and operator of real estate products focused primarily on self-storage and marinas in the Southeast. The company has developed, acquired and operated more than 125 self-storage projects across the country, totaling more than 8.8 million square feet. In addition to storage centers, Morningstar owns and operates 12 marinas across the Southeast and the Great Lakes region.

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