10 Federal is pleased to announce the acquisition of the Storage One Self Storage facility located in Camden, SC, which occurred on July 24th, 2018. This acquisition marks the 7th self storage facility acquisition by the 10 Federal Self Storage Acquisition Company 1, LLC offering.
10 Federal will deploy its suite of technologies to support unmanned operations, which includes the installation of a kiosk rental center, model unit, proprietary overlock system and expanding 10 Federal's call center services to this facility.
On July 1st, 2018, the company admitted an additional $1,800,000 of equity which was utilized for the Storage One facility closing and on-going renovations at the recently acquired assets. This additional equity brings the total equity raised for the offering to over $7,000,000 of the $10,000,000 target.
Additionally, 10 Federal is pleased to announce an 8.00% annualized distribution to its investors for the second quarter of 2018.
The goal of the 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.