Fulton advised a private client on the acquisition of a self-storage facility in Metro Detroit, Michigan. Asset sourcing, CMBS financing, and all negotiations were led by Fulton’s team of real estate professionals.
The 82,000 SF asset includes nearly 500 units, 38 of which are climate controlled. There are also 216 RV/parking spaces on site. The facility also generates substantial of income from two cell tower leases and the sale of propane.
Fulton helped the client identify a professional management team to boost profitability at the already stable, high occupancy facility. Planned enhancements include the incorporation of professional marketing and revenue management systems and the additional of ancillary income streams, such as a tenant insurance program.