Morningstar Properties LLC, which operates self-storage facilities under the Morningstar Mini-Storage brand, has appointed Matthew J. Shapiro as its new chief investment officer and hired Mary A. Cummings as finance associate.
Shapiro has been with the company for 12 years in a variety of positions, most recently serving as vice president of real estate. In his new role, he’ll oversee all aspects of acquisition, development and investment for Morningstar’s self-storage and marina platforms. He’ll also work closely with the company’s operation and marketing departments to ensure the consistent performance of all current investments, according to a press release. Shapiro will continue to play a key role in formulating the investment strategy for Blue Doors Capital Management, Morningstar’s real estate private-equity affiliate.
“Matt has been the face of Morningstar in the investment and brokerage communities around the country and industry,” said Dave Benson, president. “His careful and thoughtful approach has given us an unmatched platform to drive our growth and returns.”
Shapiro also serves as treasurer for the North Carolina Self Storage Association and is a founding board member of Find Local Storage, a self-storage location directory and lead-engine firm. Prior to joining Morningstar, he held a senior management position in a technology startup focused on the digital-photography industry. He’s a past board of advisors member for the Belk Bowl, an annual college football bowl game, and the Atlantic Coast Conference Football Championship. Shapiro was honored with an Impact Fund Award from the Foundation For The Carolinas, which manages charitable resources for individuals and groups in 13 Carolina counties. He earned a bachelor’s degree in economics and marketing from Queens University and a Master of Business Administration (MBA) from Wake Forest University.
Cummings previously held positions with Merrill Lynch and Investors Bank as a financial-advisor intern and credit analyst, respectively, specializing in credit-risk management and portfolio growth. She earned a bachelor’s degree from Colby College and, most recently, an MBA with a concentration in corporate finance and real estate from the Kenan-Flagler Business School (KFBS) at the University of North Carolina.
“We are very excited and fortunate to have Mary join our team,” said Wes Carter, chief financial officer. “Mary’s prior work in financial analysis, her leadership experiences, and the graduate work she recently completed at KFBS with a dual concentration in corporate finance and real estate is exactly the combination of skills and experience we need to support the continued growth of our company.”
Founded in North Carolina in 1981, Morningstar Properties is a vertically integrated developer, operator and owner of real estate products focused primarily on self-storage and marinas in the Southeast. The company has acquired, developed and operated more than 135 self-storage projects across the country, totaling more than 10 million square feet. It currently owns and operates 41 self-storage centers in nine states, with most concentrated in the South.