MORNINGSTAR PROPERTIES APPOINTS NEW CHIEF FINANCIAL OFFICER

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    Wesley G. Carter has been appointed Chief Financial Officer (CFO) of Morningstar Properties.

    Carter joined the company in 2012 as Vice President of Finance, where he was responsible for sourcing and executing capital transactions. He has 18 years of financial, consulting and operational experience.

    Immediately prior to joining Morningstar, he managed the financial and operational functions of a real estate development company that also owned and managed self-storage facilities. Carter began his career with Andersen Consulting (now Accenture), and later was a relationship manager for both Banc of America Securities and Wachovia Securities structuring and executing corporate secured and unsecured lines of credit for real estate investment trusts (REITs) and real estate opportunity funds.

    “Wes knows our company and the storage sector well, and he delivers the added benefit of having worked extensively in specialized areas of finance that are vital to our business,” said Dave Benson, president and CEO of Morningstar Properties. “His skills and insight will be invaluable to Morningstar’s management team.”

    Carter takes over as CFO from Phyllis McArthur, who has held the position since 1992 and will remain with the company as Executive Vice President. She will also continue as a member of the Investment Committee for Morningstar’s Blue Doors Storage Fund I, LP, and help identify new opportunities for acquisition and development.

    Carter earned his BA in Chemistry from Duke University and an MBA from The University of North Carolina at Chapel Hill.

    For more information, please visit mstarproperties.com.

    About Morningstar Properties

    Morningstar Properties is a vertically integrated real estate developer, owner and operator of specialty real estate products focused primarily on self-storage and marinas in the Southeast United States. Since 1981, Morningstar has developed, acquired and operated over 125 self-storage projects across the country totaling in excess of 8.8 million square feet. Currently the company manages a network of 32 storage properties under the brand name of Morningstar Mini-Storage in nine states, mostly concentrated in the South. In addition to storage centers, Morningstar owns and operates 12 marinas across the Southeast and Great Lakes. The corporate headquarters are located in Charlotte, NC. Morningstar’s future growth is funded through Blue Doors Capital Management, an affiliated private equity fund designated for acquisition and development of self-storage centers.

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