Fulton Realty Capital advised a private client on the acquisition of a three-property self-storage portfolio in Greater Hartford. Asset sourcing, CMBS financing, and all negotiations were led by Fulton’s real estate professionals.
There are 550 storage units (100 climate-controlled) across the 65,000 rentable SF portfolio, in addition to 28 RV parking spaces. All locations benefit from robust demographics and excellent highway access.
Despite 98% physical occupancy at closing, Fulton has identified significant upside opportunities due to a sizable gap between physical and economic occupancy. A professional, third-party has been engaged to manage the portfolio. In addition, Fulton’s significant presence across Connecticut, and its relevant market intelligence, will help optimize management of both market and in-place tenant rates.
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