Fulton Realty Capital advised a private client on the acquisition of a four property self-storage portfolio in Virginia's Greater Richmond Region. In addition to arranging interest-only, fixed rate debt financing, Fulton’s team sourced the opportunity and negotiated the transaction.
The complete portfolio features 86,000 rentable SF of self-storage across 232 climate-controlled units and 414 non-climate units. Also included are two commercial spaces and 6,000 rentable SF of surface parking.
Fulton has identified opportunities to improve performance through the implementation of revenue and expense management systems. A professional, third-party management company has been hired to operate the facilities.