Fulton Realty Capital guided a private client through the successful acquisition of a two-property self-storage portfolio in Jackson County, Michigan. Fulton's team sourced, negotiated, and orchestrated a five-year, fixed rate debt financing solution.
The portfolio includes roughly 40,000 rentable SF of self-storage with 300 non-climate units. There are also 35 RV parking spaces across the two facilities.
Although physical occupancy was 82% at close, the asset has significant upside potential through capital improvements and rental rate increases. Fulton has already identified opportunities to boost the on-line presence through formalized marketing programs and also plans to improve performance through implementing revenue management systems. The facility will be operated by a professional, third-party management company.