10 Federal Self-Storage breaks escrow on 2nd Self Storage Acquisition Platform, Raises $7,615,000 in equity & closes on 3 Self Storage properties. 10 Federal Self Storage Acquisition Company 1, LLC announces 8.0% annualized distribution

News provided by

Jul 26, 2019, 07:30 ET

RALEIGH, N.C., July 26, 2019 /PRNewswire/ -- 10 Federal is pleased to announce that on July 10^th, 2019 the 10 Federal Self Storage Acquisition Company 2, LLC ("10FSSAC2") broke escrow and admitted $7,615,000 of initial equity raised via existing investor relationships, crowdfunding & via foreign syndicate partnerships including a recently announced partnership with Mainstay Global of Austin, TX. 10FSSAC2 ultimately endeavors to raise $30,000,000 for this 2^nd self storage acquisition platform offering.

10 Federal is pleased to announce the successful launch of its 2nd self storage offering- 10 Federal Self Storage Acqusition Company 2, LLC. 10 Federal seeks to raise $30 million for this new offering.

Further, 10 Federal is pleased to announce that it has closed on the first three self storage assets for the new 10FSSAC2 portfolio. The three assets are located in Charlotte, NC, Elgin, IL and Columbia, SC and were closed on July 10^th, July 23^rd & July 25^th, respectively. Repositioning and renovation efforts onto 10 Federal's unmanned self storage management & technology platform has begun on all 3 self storage assets.

10 Federal's other self storage platform, 10 Federal Self Storage Acquisition Company 1, LLC is pleased to announce a 2^nd quarter 2019 distribution equal to 8.0% annualized.

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