Fulton Realty Capital advised a private client on the acquisition of two self-storage properties in Metro Detroit, Michigan. The transaction was sourced and negotiated by Fulton’s real estate professionals. Five-year fixed rate debt financing was also secured for the client.
The portfolio includes roughly 50,000 rentable SF of self-storage, including over 400 non-climate units, and 22 parking spaces. At closing, the portfolio was at 86% physical occupancy.
A professional, third-party management company will operate all facilities. Revenue management and expense efficiency systems will be implemented to improve performance. Fulton’s significant presence and experience in Michigan will also help the client navigate local market conditions to maximize performance.
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