10 Federal is pleased to announce the acquisition of the Store Room facility located in Durham, NC and Minnie's Minis located in Lowell, NC. Both closings occurred on January 26, 2018 and mark the fourth and fifth acquisitions of 10 Federal's Self Storage Acquisition Company.
10 Federal will deploy its suite of technologies to support unmanned operations, which include the installation of a kiosk rental center, model unit, proprietary overlock system and expanding 10 Federal's call center services to these facilities.
Additionally, 10 Federal is pleased to announce an 8.45% annualized distribution to its investors for the fourth quarter of 2017 for 10 Federal Self Storage Acquisition Company 1, LLC. This company admitted another $1,695,000 of funds on January 1st, 2018 bringing the total capital raised for this entity to $3,800,000.
The goal of the 10 Federal Self Storage Acquisition Company is to acquire, rehab and renovate self storage properties within the southeast and implement best practices including 10 Federal's suite of technologies that allow the properties to operate efficiently in an unmanned status.