Transactions - NOVEMBER 23, 2021

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Harrison Street acquires self-storage portfolio, makes largest portfolio transaction to date

by Kali Persall

Harrison Street has acquired a portfolio of 26 self-storage properties, operated under the Midgard Self Storage brand, across six states.

The portfolio consists of nearly 2.7 million rentable square feet and 18,765 units, and is 95 percent occupied. Reliant Real Estate Management will manage the properties under a long-term agreement.

“We are excited to deepen our presence in the self-storage sector through the largest portfolio transaction in our firm’s history,” said Michael Gordon, CIO of Harrison Street. “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.”

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