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In the News
Morningstar venture acquires marina
Charlotte Business Journal - 01/07/2008
A joint venture formed by local self-storage operator Morningstar Properties and Harrison Street Real Estate Capital has purchased a marina in Littleton, N.C.
Eaton Ferry Marina, a 5-acre facility, is Morningstar's ninth marina. The property includes a restaurant, boat showroom, 7,000-square-foot repair and service center and two storage buildings accommodating up to 320 boats.
It is the third marina joint venture between Morningstar and Harrison Street, a Chicago-based real estate private-equity firm.
Morningstar owns and operates more than 2,800 dry and wet berths in four Southeastern states. The company plans to continue to buy, develop and redevelop inland and coastal marinas from Maryland to Florida.
Financial terms of the deal weren't disclosed.
