Fulton Realty Capital advised a high-net-worth individual on the acquisition of a self-storage facility in Middle Tennessee. In addition to sourcing and negotiating the transaction, Fulton's advisors secured convertible debt and CMBS financing to facilitate the off-market deal.
Located near a highly trafficked interstate highway ramp, the 56,000 SF asset includes 430 units (130 of which are climate-controlled), 20 surface vehicle storage spots and four commercial suites. There's minimal competition in the surrounding market.
A professional management company – identified by Fulton and selected by the client – will take over day-to-day operations and assist with long-term strategic planning. Planned business enhancements include the incorporation of marketing and revenue management systems and development of ancillary revenue streams.