RALEIGH, N.C., July 13, 2023 /PRNewswire/ — 10 Federal, a leading operator of self-storage facilities, is pleased to announce the successful capital raise of over $27 million during the second quarter of the year for their 4th Self Storage offering. This impressive achievement has propelled the total capital raised by 10 Federal to an impressive $60 million for the year.
The substantial capital infusion highlights the strong investor confidence in 10 Federal’s innovative business model and their consistent track record of delivering exceptional returns. These funds will further fuel the company’s growth strategy and facilitate the acquisition of self-storage assets in strategic markets.
“We are delighted to have raised over $27 million in the second quarter, reaching a total capital raise of $60 million for the year,” said Cliff Minsley, Co-Founder of 10 Federal. “These funds enable us to continue executing on our growth strategy and further expand our portfolio in key markets.”
In line with their expansion goals, 10 Federal recently completed the acquisition of a portfolio consisting of three properties located in the thriving Spartanburg, SC market. This acquisition marks the seventh property purchased by 10 Federal this year and the eleventh property within 10 Federal Self Storage Acquisition Company 4, LLC. The addition of these properties further strengthens 10 Federal’s presence in the Spartanburg market and demonstrates their commitment to providing high-quality self-storage solutions in the region.
The Spartanburg portfolio acquisition aligns with 10 Federal’s strategic focus on acquiring properties in high-demand markets with favorable growth dynamics. These properties offer significant upside potential and are poised to capitalize on the strong demand for self-storage solutions in the Spartanburg area.
“We are excited about the acquisition of this three-property portfolio in Spartanburg,” said Andrew Capranos, President of 10 Federal Storage. “These additions further strengthen our presence in the region and allow us to offer top-quality self-storage solutions to meet the growing demand in Spartanburg and surrounding areas.”
10 Federal’s success in raising capital and acquiring new properties demonstrates their commitment to delivering exceptional service and value to their customers. As the company continues to expand its footprint, it remains dedicated to providing innovative self-storage solutions backed by cutting-edge technology and a customer-centric approach.
10 Federal’s exceptional performance in capital raising and property acquisitions underscores their position as a trusted leader in the self-storage industry. As they continue to expand their portfolio, 10 Federal remains dedicated to delivering innovative storage solutions and exceptional customer experiences.
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 over 75 properties, 10 Federal leverages innovative technology and data-driven insights to deliver exceptional self-storage experiences while providing superior investor returns.
SOURCE 10 Federal
Originally published at https://www.prnewswire.com/news-releases/10-federal-raises-an-additional-27-million-in-q2-for-4th-self-storage-offering-bringing-total-capital-raised-to-60-million-301876063.html