Fulton Realty Capital advised high-net-worth co-investors on the acquisition of a recently built, self-storage facility in Greater Houston, Texas. The transaction was sourced and negotiated by Fulton's commercial real estate advisors.
Floating-rate bridge financing, with a 5-year term and an interest rate cap, was also secured for the client.After 18 months, the entire loan balance is eligible to be repaid in full, without penalty (exit fee only). This offers flexibility for a future refinance or other capital events.
The 75,000 SF, Class A property features a multi-story layout with over 600 climate-controlled units, Located along a high-visibility traffic corridor, the facility experienced a rapid lease-up upon opening and was more than 90% occupied at closing.
The site will be operated by a professional, third-party management company. Fulton also has identified opportunities to improve performance through revenue management systems, formalized marketing programs, and ancillary income streams.