10 Federal Surpasses $96 Million in Capital Raise, Expands 4th Self-Storage Offering

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Jan 08, 2024, 06:00 ET

RALEIGH, N.C., Jan. 8, 2024 /PRNewswire/ -- 10 Federal, a prominent operator in the self-storage sector, proudly announces a significant achievement with a successful capital raise surpassing $16 million in the fourth quarter of the year for their 4th Self Storage offering. This latest accomplishment marks a large milestone, bringing the total capital raised by 10 Federal's fourth offering to a noteworthy $96 million.

Andrew Capranos, President of 10 Federal, expressed gratitude, stating, "We are immensely pleased with the trust from our valued investor base, reaching a cumulative capital raise of $96 million since the offering's inception in December 2022. The confidence and commitment from our investors empower us to pursue our pioneering vision and carry out our expansion strategies."

Aligning with their expansion objectives, 10 Federal recently finalized the acquisition of two properties located in thriving markets - Greeneville, TN and Seguin, TX. These acquisitions expand the offering to a total of 13 assets acquired by 10 Federal Self Storage Acquisition Company 4, LLC. These additions strengthen 10 Federal's presence and economies of scale in these high-growth areas.

Cliff Minsley, Co-Founder of 10 Federal Storage, commented, "The ongoing advancements in our technology at 10 Federal is incredible. Our tech team has helped develop user-friendly websites and tenant portals, streamlining the rental process to just 30 seconds, ensuring a frictionless experience for our tenants throughout their storage journey."

10 Federal remains dedicated to innovating, ensuring a robust customer-centric experience. They consistently strive to remain ahead of the curve by integrating cutting-edge technology, setting a benchmark for industry standards.

About 10 Federal:

10 Federal is a leading high-tech operator of self-storage facilities, specializing in fully automated properties. With a portfolio spanning 14 states and 80 properties, 10 Federal leverages innovative technology and data-driven insights to deliver exceptional self-storage experiences while providing superior investor returns.

SOURCE 10 Federal