Harrison Street completes sale of 15 self-storage properties
Harrison Street has sold 15 self-storage assets, including a portfolio of 14 self-storage assets across the southeastern United States comprising approximately 1.2 million net rentable square feet, as well as a purpose-built self-storage facility in Atlanta.
The portfolio sale is consistent with the firm’s strategy of acquiring or developing individual assets and ultimately aggregating into a portfolio for sale, which typically enhances the buyer pool and potential terms. The portfolio of 14 self-storage assets consists of 8,069 units across Florida, Georgia and South Carolina. The portfolio, owned across multiple Harrison Street funds, was constructed over the past five years and successfully completed property business plans prior to sale.
Christopher Merrill, Harrison Street’s co-founder, chairman and CEO, said, “Demand in the self-storage sector has always been driven by life events that don’t necessarily correlate to the broader economy. As such, we cont