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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).