Joint venture expands U.S. self-storage holdings

Acquisition includes more than 1,100 units

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Two self-storage properties totaling 129,000 square feet in Houston, Texas, have sold to a joint venture for an undisclosed amount. The partnership, which includes 180 Development Services LLC, Harrison Street Real Estate and Morningstar Properties LLC, bought from an unidentified buyer. The storage facilities, operated under the trade name Morningstar Mini-Storage, are located in Friendswood and West Houston and have a total of 1,140 storage units. This acquisition brings the number of properties acquired into the joint venture to seven, representing approximately 420,000 square feet of storage space and 3,050 units. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com. ...