10 Federal’s third self-storage fund is up and running, raising $7.4 million in 18 days…
RALEIGH, N.C., Jan. 25, 2023 /PRNewswire/ -- 10 Federal is pleased to announce that its 2nd self storage offering, 10 Federal Self Storage Acquisition Company 2, LLC ('10FSSAC2') sold 4 more self storage assets in December 2022 for a combined sale price of $8,100,000. To date, the 10FSSAC2 offering has sold 27 out of 28 self storage assets in the portfolio bringing 10FSSAC2 offering's overall company IRR to 41% during its roughly 3.5 year hold. The 10FSSAC2 portfolio equity multiple now surpasses 2.46x.
On December 15th, 2022, 10 Federal officially launched its 4th self storage offering, 10 Federal Self Storage Acquisition Company 4, LLC ("10FSSAC4") and successfully raised $10.9 million in equity for the new venture. 10FSSAC4 seeks to raise $100,000,000 in equity and represents the 4th iteration of 10 Federal's proprietary business plan of leveraging technology to automate and elevate the operations of self storage assets to increase value. Following the initial investor equity closing, 10FSSAC4 acquired 2 self storage facilities in the Houston, TX MSA and another storage asset in North Carolina. 10FSSAC4 currently has 5 additional storage assets in the acquisition pipeline.
The goal of 10FSSAC2, 10FSSAC3 and 10FSSAC4 is to acquire, renovate and convert self storage properties to 10 Federal's unmanned, automated platform. Once converted, 10 Federal can efficiently operate the storage facilities using technology and remote support to elevate the storage customer's experience while driving returns for the participating stakeholders in the storage portfolios.
For more information on the 10FSSAC4 investment opportunity, please visit this link.
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SOURCE 10 Federal