CHARLOTTE, NC (PRWEB) September 08, 2015
Charlotte-based Morningstar Properties announced today that it has acquired a storage facility in Bryan,Texas adding 580 units and 85,000 rentable square feet to its portfolio.
Constructed in 2009 and expanded in 2014, the Morningstar Storage branded complex offers a wide array of heated and cooled storage options as well as fully enclosed RV spaces and larger units suited for active commercial uses. Located at 2704 Boonville Rd, Morningstar of Bryan/College Station is proximal to both Miramont Country Club and the commercial business district along Highway 6 and Briarcrest Dr.
“Morningstar of Bryan/College Station, is a great foothold, with a fantastic product, in a new market we are very excited about” said Dave Benson, President of Morningstar Properties. “The Bryan/College Station market is very vibrant and will be a growth market for us as we continue to selectively invest across the state of Texas”.
Morningstar acquired the property through its self-managed institutional investment vehicle, Blue Doors Storage Fund II, which has acquired 6 assets with the fund and plans to acquire several additional facilities in Texas markets in the last half of 2015. Morningstar of Bryan/College Station is the company’s 1st asset in Bryan/College Station and 10th overall in Texas.
About Morningstar Properties: Morningstar Properties is a vertically integrated real estate developer, owner and operator of specialty real estate products focused primarily on self-storage and marinas in the Southeast United States. Since 1981, Morningstar has developed, acquired and operated over 136 self-storage projects across the country totaling in excess of 8.9 million square feet. The company manages a network of 37 storage properties under the brand name Morningstar Storage in nine states concentrated in the South. In addition to storage centers, Morningstar operates 12 marinas across the Southeast and Great Lakes. The corporate headquarters are located in Charlotte, NC. Morningstar’s future growth is funded through Blue Doors Capital Management, which manages the company’s affiliated private equity funds designated for acquisition and development of self-storage centers.
For more information:
Billy Stephens – Senior Director