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30 Dec 2020

Storage Firm 10 Federal Raises $32M, Acquires 5 Properties

RALEIGH, N.C., Dec. 29, 2020 /PRNewswire/ -- 10 Federal is pleased to announce that the 10 Federal Self Storage Acquisition Company 2, LLC ("10FSSAC2") offering completed its equity raise of $30,000,000 and was oversubscribed by an additional $2 million. Thus, on December 7th, 2020, the company admitted $2,975,000 as a final round of capital bringing the total capital raised to $32 million.

Further, 10 Federal Self Storage Acquisition Company 2, LLC closed on 2 additional self storage facilities in Columbia, MO in November 2020 and an additional portfolio of 3 facilities in McDonough, GA in December 2020 rounding out 26 acquisitions for the offering totaling over 7,500 storage units.

The goal of 10FSSAC1 & 10FSSAC2 is to acquire, renovate and convert self-storage properties to 10 Federal's unmanned, automated platform. Once converted, 10 Federal can efficiently and effectively operate the facilities using technology and remote support.

For more information on the offerings please visit-https://invest.10federal.com/properties/

SOURCE 10 Federal