Fulton Realty Capital advised a high-net-worth individual on the acquisition of a self-storage facility in North Carolina's Research Triangle region. In addition to sourcing the asset, Fulton's advisors led all negotiations and secured convertible debt and CMBS financing to facilitate the transaction.
The 56,000 SF property is located near a major university, leading companies, and dense suburban neighborhoods. Among the highest quality facilities in the growing submarket, the 400-unit asset has track record of high occupancy.
Below market in-place rents and other operational inefficiencies represent upside opportunities for the client. Fulton has identified a professional management company to assume day-to-day management and assist with long-term strategic planning.