Fulton Realty Capital advised high-net-worth co-investors on the acquisition of a self-storage facility in Central Colorado. The transaction was sourced and negotiated by Fulton's commercial real estate team. Bridge financing was secured to facilitate a year-end close, and CMBS financing is expected to be finalized by early 2022.
The single-story, 80,000 SF asset has more than 400 units and 22 RV/parking spaces. Located along a high visibility traffic corridor, the well-occupied, stabilized asset caters to a mix of individual and commercial users.
Fulton helped identify a professional management company to build upon the property's strengths and drive future profitability. Improvement opportunities include the introduction of expense efficiency and revenue management systems and the introduction of ancillary income streams.