Sponsored By

Investment-Management Firm Harrison Street Sells 12-Property Self-Storage Portfolio Across 4 States

March 18, 2022

1 Min Read
Investment-Management Firm Harrison Street Sells 12-Property Self-Storage Portfolio Across 4 States

Harrison Street, an investment-management firm focused on alternative real estate assets, recently sold a 12-property self-storage portfolio across four states to self-storage real estate investment trust Life Storage Inc. and facility operator Storage Post. The properties were held across several of the company’s funds, according to a press release.

The portfolio comprises 625,598 rentable square feet across Illinois, New York, North Carolina and Texas. It was 91% occupied at the time of sale. The facilities were previously operated in joint-venture partnerships with Advantage Self Storage, Reliant Real Estate Management and Storage Post. Life Storage provided third-party management services for one of the properties

“This transaction reflects Harrison Street’s vast self-storage sector expertise and our strong track record driving value for our investors and partners,” said Ben Mohns, senior managing director and head of North American asset management for Harrison Street. “Identifying individual assets backed by demographic-driven trends, executing value-enhancing strategies, and exiting via portfolio sales at a premium has been at the core of our business since inception. We look forward to continuing to identify attractive investment opportunities in the storage space for our investors and partners.”

Founded in 2005 and headquartered in Chicago, Harrison Street has invested more than $2.8 billion in self-storage in 24 U.S. states and three Canadian provinces. With offices in London, San Francisco and Toronto, the firm has $44 billion in assets under management.

Based in Buffalo, New York, Life Storage operates about 1,100 self-storage facilities in 35 states. Its portfolio of owned and managed facilities comprises more than 78.6 million square feet.

Founded in 1998, Storage Post operates 30 facilities in Louisiana, New Jersey and New York.

Subscribe to Our Weekly Newsletter
ISS is the most comprehensive source for self-storage news, feature stories, videos and more.

You May Also Like