Fulton advised high-net-worth co-investors on the acquisition of a self-storage portfolio in Middle Tennessee. All seven properties are located within 45 miles of Nashville. Fulton's advisors secured CMBS financing to facilitate the deal.
The 91,000 SF portfolio includes 760 storage units and enclosed RV/parking spaces. All facilities are feature keypad entry gates and automated service kiosks. This allows for tenants to lease spaces and manage payments without a manager physically present.
The properties are among the highest quality assets in their respective submarkets, both in terms of physical condition and curb appeal. There's limited competition, and at the time of acquisition, occupancy across the portfolio was 98%.Fulton's team provide management and business strategies to capitalize on the facilities’ proven operating model. New marketing programs, revenue management systems, and additional revenue streams are among the planned improvements.
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