Fulton Realty Capital advised a private client on the acquisition of a self-storage property located in Camden County, NJ. The transaction was sourced and negotiated by Fulton’s team of real estate professionals. The team also arranged ten-year fixed rate mortgage financing.
The 41,000 rentable SF property contains 275 non-climate-controlled units and three office spaces. At the time of closing, the property was at over 80% physical occupancy with upside potential through improved physical occupancy as well as rental rate increases.
The facility will be operated by a professional, third-party management company. Fulton will improve performance through implementing revenue management systems and capitalizing on its existing market presence.
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