In a prepared statement, however, Benson says Bahia Bleu is thethird marina in the company's portfolio. Morningstar also owns theReserve Harbor Yacht Club in Pawleys Island, SC and the PeninsulaYacht Club in Lake Norman, NC. Bahia Bleu accommodates 225 drystack boats and has 1,500 linear feet of wet slips for transientand monthly dockage, Benson says. The facility also includes a shipstore and three offices.

"Bahia Bleu is a strategic fit in our coastal expansion plan,"Benson says. "We are looking to acquire additional marinaoperations from Maryland to Florida." Benson says Morningstar is"the largest storage operator in the Carolinas and the 11th largestin the US, managing 61 storage centers with over 4.7 million sf."The 25-year-old company develops, builds and operates high-end,self-storage marina properties.

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