10 Federal Self Storage Acquisition Company 2, LLC surpasses $24.5 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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Apr 28, 2020, 07:00 ET

RALEIGH, N.C., April 28, 2020 /PRNewswire/ -- 10 Federal is pleased to announce that on April 1^st, 2020, new equity in the amount of $8,595,000 was admitted into the 10 Federal Self Storage Acquisition Company 2, LLC ("10FSSAC2") offering bringing total capital raised to $24,519,000 out of the offering's $30 million goal. Thus far, 10FSSAC2 has closed 9 new storage locations in 2020 with 2 more acquisitions planned for Q2 2020. 10FSSAC2's portfolio now consists of 19 self-storage assets and over 5,600 self-storage units.

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 3/31/2020.

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