10 Federal completes $10,000,000 raise, acquires two self-storage facilities

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Dec 21, 2018, 16:16 ET

RALEIGH, N.C., Dec. 21, 2018 /PRNewswire/ -- 10 Federal is pleased to announce that on November 15, 2018 the 10 Federal Self Storage Acquisition Company 1, LLC ("10FSSAC1") admitted an additional $1,605,000 thereby completing that goal of raising $10,000,000.

Further, 10 Federal is pleased to announce the acquisition of the Store-It-Right portfolio consisting of properties located at 2399 Leake Square, Charlottesville, VA and 15142 Spotswood Trail, Ruckersville, VA. These acquisitions mark the 9^th and 10^th acquisitions of 10FSSAC1.

10 Federal will deploy its suite of technologies to support unmanned operations which includes the installation of a kiosk rental center, model unit, proprietary overlock system and extending 10 Federal's call center services to this facility.

The goal of 10FSSAC1 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 Offering, please visit https://invest.10federal.com/properties/

SOURCE 10 Federal