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Harrison Street Adds Six-State Self-Storage Portfolio
Chicago-based Harrison Street has acquired a portfolio of 26 self-storage properties comprised of nearly 2.7 million rentable square feet and 18,765 units across six states. Terms of the sale weren’t disclosed.
The geographically diverse portfolio is 95% occupied and will continue to be operated under the Midgard Self Storage brand across Florida, Georgia, South Carolina, Tennessee, North Carolina and Arkansas. Reliant Real Estate Management, LLC, a vertically integrated commercial self-storage operator, will manage the properties under a long-term agreement.
Harrison Street CIO Michael Gordon said, “Self-storage has been a core area of focus for Harrison Street’s demographically driven investment strategy since inception, driven by demand related to life changes, with less correlation to economic events. We are pleased to build on our partnership with Reliant, a top-tier operating partner, to capitalize on consolidation opportunities in markets backed by growing and affluent populations.”
- ◦Sale/Acquisition

