Fulton Realty Capital advised a high-net-worth investor on the acquisition of a self-storage facility in East Texas. In addition to sourcing and negotiating the off-market transaction, Fulton's advisors secured convertible debt and CMBS financing to facilitate the deal.
With nearly 33,000 SF of storage space, the facility currently accommodates over 160 units and 60 surface parking spaces. The asset is located near a major university, in a submarket without new or planned self-storage development.
A professional management company, arranged by Fulton, will assume day-to-day oversight of the previously independently owned and operated facility. New marketing programs, revenue management systems, and revenue streams are among the planned improvements.