JV buys self-storage portfolio in Texas

Gains more than 1,900 units in multiproperty deal

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A joint venture comprised of three entities has completed the acquisition of five self-storage properties in the northern suburbs of Houston, Texas. Neither the seller's identity nor the sales price was disclosed. The JV buyers -- 180 Development Services LLC, Harrison Street Real Estate and Morningstar Properties -- picked up a total of 290,507 rentable square feet and 1,911 storage units in the deal. The storage facilities now operate under the trade name Morningstar Mini-Storage, according to a press statement. ...