Fulton Realty Capital advised a private client on the acquisition of 3 self-storage facilities in Central Louisiana. Fulton sourced and negotiated the transaction and secured CMBS financing.
The 190,000 SF portfolio includes over 1,500 storage units (850 climate-controlled), 70 surface parking spaces, 50 enclosed RV storage spaces, and two office units. All properties are top of market in terms of quality, well-occupied, and located in the same, under-supplied area.
Fulton's commercial real estate advisors also identified a professional management company to oversee the entire portfolio. In addition to modernizing operations, the third-party vendor will seek to drive upside through ancillary revenue streams and a formal marketing program.