Starwood Real Estate Income Trust and self-storage owner and operator Morningstar Properties have formed a joint venture to focus on the self-storage sector.
The joint venture includes the recapitalization of 25 assets owned by Morningstar, as well as a commitment of capital to continue acquiring assets in the sector under the Morningstar brand. The joint venture will seek out both portfolios and one-off assets.
The seed portfolio for the newly formed venture includes 1.8 million square feet of storage space located throughout the Sun Belt region, which is experiencing significant population, employment and income growth.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
