10 Federal has a self-storage portfolio of more than 850,000 net rentable square feet
January 6, 2021: 10 Federal Self Storage Acquisition Company 2, LLC ("10FSSAC2") completed its equity raise of $32 million and was oversubscribed by an additional $2 million.
It closed on two self-storage acquisitions in Columbia, Mo., in November and a three-property portfolio in McDonough, Ga., in December. In total, the fund made 26 property acquisitions comprising more than 7,500 storage units, according to a press release.
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.
10 Federal founded in 2010 and based in Raleigh, N.C. Its self-storage portfolio of owned and managed properties comprises more than 850,000 net rentable square feet. 10 Federal is a diversified real estate company that also operates multi-family properties. Integrating technology into its operation is a core tenet of the business, according to the company website.