Joint venture purchases Houston self-storage properties

A joint venture has entered the Houston market with the acquisition of five self-storage properties.

Terms of the agreement were not disclosed.

Companies in the joint venture with Gilbert, Ariz.-based self-storage owner 180 Development Services LLC include Chicago investment firm Harrison Street Real Estate and Matthews, N.C-based real estate developer Morningstar Properties LLC.

The storage facilities, which now operate as Morningstar Mini-Storage, all are located north of Houston with a total of 290,507 rentable square feet and 1,911 storage units.