Fulton Realty Capital advised high-net-worth co-investors on the acquisition of a self-storage complex in metro Denver, Colorado. The transaction was sourced and negotiated by Fulton's advisors. The team secured bridge financing to facilitate a year-end close. CMBS financing is also being arranged and should be in place by early 2022.
The 150,000 SF property is located along a high visibility traffic corridor and caters to both individual and commercial users. In addition to over 1,100 units, the site features 450 RV/parking spaces, of which 125 are enclosed. At closing, the property was more than 90% occupied.
The site will be operated by a professional, third-party management company. Fulton has also identified opportunities to improve performance through formalized marketing programs and ancillary income streams.
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