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Harrison Sells 43 Self-Storage Facilities

CHICAGO—The Chicago-based Harrison Street Real Estate Capital has completed what they say is the largest self-storage portfolio transaction to date.

By Brian J. Rogal | Updated on October 07, 2013

CHICAGO—Harrison Street Real Estate Capital, a Chicago-based real estate private equity firm, has just completed a giant sale of self-storage facilities to Public Storage, a publicly listed REIT. The firm’s officials say it’s the largest self-storage portfolio transaction to date, even surpassing a $300 million sale earlier this year.

The portfolio consists of 43 properties in Texas, North Carolina, South Carolina, Virginia and Georgia that Harrison began assembling in 2007. At the time of sale, the 22,500-unit portfolio was over 82% occupied. The properties were owned in a joint-venture with Morningstar Properties and managed under the Morningstar Mini-Storage brand.

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