10 Federal Self Storage Acquisition Company 2, LLC hits $15.9 million in capital raising & closes on 5 more self storage properties. 10 Federal Self Storage Acquisition Company 1 & 2 announce 8.0% annualized distribution

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Jan 30, 2020, 07:34 ET

RALEIGH, N.C., Jan. 30, 2020 /PRNewswire/ -- 10 Federal is pleased to announce that on January 1^st, 2020 another round of equity was admitted to the 10 Federal Self Storage Acquisition Company 2, LLC ("10FSSAC2") offering bringing total capital raised to $15,900,000 out of the offering's $30 million goal. These proceeds were immediately deployed to acquire the 4-property Capitol Storage portfolio in Springfield, IL. 10FSSAC2 also acquired 10 Federal's first asset in the Dallas, TX market, which is a market 10 Federal is seeking to expand within quickly. 10FSSAC2's portfolio now consists of 13 self-storage assets.

An example of 10 Federal's automated leasing center

Both 10 Federal Self Storage Acquisition Company 1, LLC & 10 Federal Self Storage Acquisition Company 2, LLC announced an 8.0% annualized distribution for the period ending 12/31/2019.

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