Fulton Realty Capital advised an individual investor on the purchase of a self-storage property located just south of Huntsville, Alabama. Asset sourcing, fixed-rate CMBS financing, and all negotiations were led by Fulton's team of real estate professionals.
The property includes roughly 75,000 rentable SF, with over 600 storage units (half of which are climate-controlled). At the time of closing, the property was at 80% physical occupancy.
Fulton will leverage its robust experience in Alabama's self-storage market to craft and implement a performance enhancement strategy for the property. In addition to optimizing both market and in-place tenant rates, Fulton's advisors will help rebrand the facility and transfer operations to a professional management company.