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Harrison Street, in Joint Venture with Morningstar, Acquires 21-Property Self-Storage Portfolio
Harrison Street Asset Management has completed the acquisition of a 21-property self-storage portfolio through a joint venture with Morningstar Properties. The portfolio comprises approximately 1.3 million net rentable square feet and more than 10,800 storage units.
The properties are located across seven states—Texas, North Carolina, South Carolina, Florida, Georgia, Virginia, and Arkansas. Notably, 71% of the portfolio is situated in top 30 U.S. metropolitan areas, including Houston, Austin, Charlotte, and Atlanta. These high-quality, well-positioned assets feature a significant portion of climate-controlled units and are located in regions with limited new supply under construction as well as robust population growth.
Currently, the portfolio boasts a 90% occupancy rate and has experienced strong lease-up momentum, with move-ins increasing 21% year-over-year in 2025. Morningstar Properties, which has operated the portfolio since 2014, will continue to manage and oversee operations going forward.
“This recapitalization highlights the strength of a portfolio we have successfully owned and operated since 2014,” said David Benson, Chief Executive Officer of Morningstar Properties.
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