10 Federal Self Storage Acquisition Company 1, LLC sells remaining 8 properties, represents total liquidation of storage assets. 10 Federal Self Storage Acquisition Company 2, LLC sells 4 Georgia properties. 10 Federal Self Storage Acquisition Company 3, LLC expands and receives commitments for $45 million in equity, sells 1 property.

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Feb 22, 2022, 07:00 ET

RALEIGH, N.C., Feb. 22, 2022 /PRNewswire/ -- 10 Federal is pleased to announce that on Thursday, February 17^th, 2022- 10 Federal Self Storage Acquisition Company 1, LLC ("10FSSAC1") successfully sold the remaining 8 properties in its portfolio to Frigatebird Investments led by industry veteran, Kurt O'Brien, representing a total liquidation of all remaining self-storage assets owned by that venture. On the same day, 10 Federal Self Storage Acquisition Company 2, LLC ("10FSSAC2") also sold 4 Georgia locations to Frigatebird and 1 South Carolina property from the 10 Federal Self Storage Acquisition Company 3, LLC ("10FSSAC3") portfolio.

10 Federal's first self-storage fund, 10FSSAC1, was launched in July of 2017 with the novel business plan of operating self-storage properties without any onsite management personnel by utilizing technology in lieu of labor. Ultimately that company purchased 10 self-storage assets and with this final liquidation event, the offering realized a successful terminal point and a complete validation of the 10 Federal automated management business plan.

10 Federal is also pleased to announce that it has expanded its most recent offering, 10FSSAC3, from $30 million to $45 million in equity capacity and is now fully subscribed on all $45 million of equity allocation. 10FSSAC3 will hold its final investor closing on April 1^st, 2022 and seeks to deploy all capital by the close of Q2 2022.

The goal of 10FSSAC1, 10FSSAC2 and 10FSSAC3 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