Recent Transactions

2-Property Self-Storage Portfolio

August 15, 2022 Fulton Staff

Self-storage, vehicle storage and Michigan icons

Fulton Realty Capital advised a private client on the acquisition of a two property self-storage portfolio in the Detroit, Michigan MSA. In addition to asset sourcing and leading all negotiations, Fulton's team secured CMBS financing.

Boasting nearly 100,000 rentable SF, portfolio includes over 600 self-storage units and surface parking that can accommodate more than 125 RV vehicles. At closing, the properties were at 95% physical occupancy with in-place rents that were meaningfully below those of nearby competitors.

The facility will be operated by a professional, third-party management company. Fulton has identified opportunities to improve performance, drive efficiencies, and boost both facilities' online presence. Physical condition and curb-appeal improvements are also planned.

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