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Morningstar Properties receives $157 million in debt financing from First Citizens Bank to refinance Blue Doors Storage Fund IV, aiding their expansion in self-storage assets.

PRIVATESep 14, 2026•about 3 hours ago

Amount Raised

$157 Million

Round Type

Debt Financing

CharlotteReal EstateReal Estate Investment

Investors

First Citizens Bank

Description

First Citizens Bank has provided $157 million in financing to Morningstar Properties to refinance Blue Doors Storage Fund IV. This financing enables Morningstar Properties to invest in high-quality self-storage assets. The partnership reflects a multi-year relationship between both entities. Morningstar Properties aims to capitalize on attractive opportunities as they expand their portfolio.

Company Information

Company

Morningstar Properties

Location

Charlotte, North Carolina, United States

About

Founded in 1981, Morningstar Properties is a vertically integrated fund manager, developer, owner and operator of specialty real estate assets. The company primarily focuses on self-storage and marina assets across the United States. Morningstar has developed, acquired and operated over 250 self-storage projects, totaling in excess of 15 million square feet. A pioneer in today's expanding marina sector, Morningstar also operates marinas under the brand name Morningstar Marinas.

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