Fulton Realty Capital advised a private client on the acquisition of self-storage portfolio in Jackson, Michigan. Asset sourcing, CMBS financing, and all negotiations were led by Fulton's commercial real estate professionals.
Combined, the two facilities have over 65,000 rentable SF, 450 standard units, nearly 100 climate-controlled units, and more than 50 RV parking spaces. Both properties were underperforming at close, with overall occupancy at roughly 75%.
Fulton will leverage its significant in-market knowledge to help the buyer make the most of this meaningful upside opportunity. A professional third-party management company has been hired to operate both facilities. Planned improvements included curb appeal enhancements, revenue management system implementations, and the development of ancillary income streams.
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